CBRE Group, Inc. (CBG) Position Cut by KBC Group NV
KBC Group NV trimmed its holdings in CBRE Group, Inc. (NYSE:CBG) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,303 shares of the financial services provider’s stock after selling 6,339 shares during the quarter. KBC Group NV’s holdings in CBRE Group were worth $2,890,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CBG. GQG Partners LLC bought a new position in CBRE Group in the 2nd quarter worth approximately $122,000. BB&T Investment Services Inc. bought a new position in CBRE Group in the 2nd quarter worth approximately $125,000. Massey Quick Simon & CO. LLC bought a new position in CBRE Group in the 3rd quarter worth approximately $193,000. Advisor Group Inc. grew its holdings in 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 in the last quarter. Finally, Dai Ichi Life Insurance Company Ltd bought a new position in CBRE Group in the 3rd quarter worth approximately $201,000. 95.00% of the stock is owned by institutional investors and hedge funds.
In other news, insider Valueact Capital Master Fund, sold 5,500,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.90, for a total transaction of $197,450,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert E. Sulentic sold 45,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $43.16, for a total value of $1,942,200.00. Following the sale, the insider now owns 637,971 shares of the company’s stock, valued at approximately $27,534,828.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,522,972 shares of company stock valued at $326,340,909. 1.00% of the stock is currently owned by corporate insiders.
A number of equities analysts recently issued reports on the company. Barclays increased their price objective on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Bank of America increased their price objective on CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.33.
CBRE Group, Inc. (NYSE:CBG) opened at $43.62 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $14,807.20, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.26 and a beta of 1.86. CBRE Group, Inc. has a one year low of $29.69 and a one year high of $44.04.
CBRE Group (NYSE:CBG) last issued its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.45 billion. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. equities research analysts predict that CBRE Group, Inc. will post 2.67 earnings per share for the current year.
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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