CBRE Group Inc (CBG) Position Trimmed by Lombard Odier Asset Management Switzerland SA
Lombard Odier Asset Management Switzerland SA reduced its position in CBRE Group Inc (NYSE:CBG) by 23.1% in the fourth quarter, Holdings Channel reports. The fund owned 61,621 shares of the financial services provider’s stock after selling 18,524 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in CBRE Group were worth $2,669,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in CBRE Group by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 3,125,730 shares of the financial services provider’s stock worth $135,088,000 after acquiring an additional 116,064 shares during the last quarter. Allianz Asset Management GmbH raised its stake in CBRE Group by 7.9% during the 4th quarter. Allianz Asset Management GmbH now owns 231,874 shares of the financial services provider’s stock valued at $10,043,000 after buying an additional 17,024 shares during the last quarter. Amalgamated Bank raised its stake in CBRE Group by 9.7% during the 4th quarter. Amalgamated Bank now owns 37,894 shares of the financial services provider’s stock valued at $1,641,000 after buying an additional 3,364 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in CBRE Group during the 4th quarter valued at $3,587,000. Finally, Martingale Asset Management L P purchased a new stake in CBRE Group during the 4th quarter valued at $2,604,000. Institutional investors own 93.17% of the company’s stock.
In other news, insider Robert E. Sulentic sold 40,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $42.56, for a total transaction of $1,702,400.00. Following the completion of the sale, the insider now owns 597,971 shares of the company’s stock, valued at approximately $25,449,645.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederic V. Malek sold 6,900 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $43.28, for a total transaction of $298,632.00. Following the sale, the director now directly owns 267,446 shares of the company’s stock, valued at approximately $11,575,062.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,167,788 shares of company stock valued at $236,284,518. Insiders own 1.00% of the company’s stock.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. equities research analysts predict that CBRE Group Inc will post 3.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%.
A number of brokerages have weighed in on CBG. William Blair reiterated an “outperform” rating on shares of CBRE Group in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, January 10th. Barclays boosted their target price on shares of CBRE Group from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Wedbush reiterated an “outperform” rating and set a $46.50 target price on shares of CBRE Group in a research note on Monday, February 12th. Finally, Raymond James Financial began coverage on shares of CBRE Group in a research note on Tuesday, February 6th. They set an “outperform” rating and a $55.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $46.56.
CBRE Group Company 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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