CBRE Group, Inc. (CBG) Director Frederic V. Malek Sells 50,000 Shares of Stock
CBRE Group, Inc. (NYSE:CBG) Director Frederic V. Malek sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $42.87, for a total transaction of $2,143,500.00. Following the sale, the director now directly owns 267,446 shares of the company’s stock, valued at approximately $11,465,410.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
CBRE Group, Inc. (NYSE:CBG) traded up $0.34 on Friday, hitting $42.83. 571,930 shares of the stock traded hands, compared to its average volume of 1,970,634. CBRE Group, Inc. has a twelve month low of $28.91 and a twelve month high of $43.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $14,423.62, a PE ratio of 16.03, a P/E/G ratio of 1.23 and a beta of 1.83.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. CBRE Group’s revenue was up 11.2% compared to the same quarter last year. sell-side analysts anticipate that CBRE Group, Inc. will post 2.67 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CBG. Bank of Montreal Can grew its stake in shares of CBRE Group by 9.8% during the second quarter. Bank of Montreal Can now owns 246,460 shares of the financial services provider’s stock valued at $8,972,000 after purchasing an additional 21,970 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in CBRE Group by 96.2% in the second quarter. State of Alaska Department of Revenue now owns 6,548 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 3,210 shares during the last quarter. Eqis Capital Management Inc. bought a new position in CBRE Group in the second quarter valued at approximately $244,000. LS Investment Advisors LLC boosted its stake in CBRE Group by 5.4% in the second quarter. LS Investment Advisors LLC now owns 12,966 shares of the financial services provider’s stock valued at $472,000 after acquiring an additional 662 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in CBRE Group by 6.2% in the second quarter. Nisa Investment Advisors LLC now owns 60,065 shares of the financial services provider’s stock valued at $2,168,000 after acquiring an additional 3,500 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. Bank of America Corporation raised their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Barclays PLC increased their price target on shares of CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. BidaskClub cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Wedbush reissued an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.33.
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About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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