CBRE Group Inc (CBG) Holdings Increased by Zions Bancorporation
Zions Bancorporation raised its holdings in shares of CBRE Group Inc (NYSE:CBG) by 5,136.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,561 shares of the financial services provider’s stock after purchasing an additional 3,493 shares during the period. Zions Bancorporation’s holdings in CBRE Group were worth $135,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Invictus RG purchased a new position in shares of CBRE Group in the 3rd quarter worth $104,000. GQG Partners LLC purchased a new position in shares of CBRE Group in the 2nd quarter worth $122,000. BB&T Investment Services Inc. purchased a new position in shares of CBRE Group in the 2nd quarter worth $125,000. Massey Quick Simon & CO. LLC purchased a new position in shares of CBRE Group in the 3rd quarter worth $193,000. Finally, Advisor Group Inc. boosted its stake in shares of CBRE Group by 6.6% in the 2nd quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock worth $198,000 after buying an additional 337 shares during the last quarter. Institutional investors and hedge funds own 95.00% of the company’s stock.
Separately, Bank of America raised their price target on CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. 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 stock. CBRE Group currently has a consensus rating of “Hold” and an average price target of $40.33.
CBRE Group (NYSE:CBG) last released its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.45 billion. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. CBRE Group’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. equities analysts anticipate that CBRE Group Inc will post 2.67 EPS for the current fiscal year.
In related news, Director Frederic V. Malek sold 6,900 shares of CBRE Group stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $43.28, for a total transaction of $298,632.00. Following the transaction, the director now directly owns 267,446 shares in the company, valued at $11,575,062.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Concannon sold 25,000 shares of CBRE Group stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $39.02, for a total value of $975,500.00. The disclosure for this sale can be found here. Insiders have sold 8,529,872 shares of company stock worth $326,639,541 over the last quarter. 1.00% of the stock is owned by company insiders.
CBRE Group Profile
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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