CBRE Group, Inc. (CBG) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. cut its holdings in shares of CBRE Group, Inc. (NYSE:CBG) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,225,394 shares of the financial services provider’s stock after selling 343,521 shares during the quarter. Principal Financial Group Inc. owned approximately 3.03% of CBRE Group worth $387,337,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. GQG Partners LLC purchased a new stake in shares of CBRE Group during the 2nd quarter valued at $122,000. BB&T Investment Services Inc. bought a new position in shares of CBRE Group during the 2nd quarter worth $125,000. Advisor Group Inc. grew its stake in shares of CBRE Group by 6.6% during the 2nd quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 337 shares during the period. Sheaff Brock Investment Advisors LLC bought a new position in shares of CBRE Group during the 2nd quarter worth $223,000. Finally, Gyroscope Capital Management Group LLC grew its stake in shares of CBRE Group by 7.2% during the 2nd quarter. Gyroscope Capital Management Group LLC now owns 6,432 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 432 shares during the period. 95.58% of the stock is owned by hedge funds and other institutional investors.
Shares of CBRE Group, Inc. (NYSE:CBG) traded up $41.07 during midday trading on Wednesday, reaching $41.07. The company’s stock had a trading volume of 1,500,000 shares, compared to its average volume of 1,660,000. CBRE Group, Inc. has a fifty-two week low of $26.09 and a fifty-two week high of $41.25. The company has a current ratio of 1.17, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66. The company has a market cap of $13,880.00, a P/E ratio of 15.38, a P/E/G ratio of 1.20 and a beta of 1.83.
CBRE Group (NYSE:CBG) last issued its earnings results on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.54 by $0.10. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. equities research analysts predict that CBRE Group, Inc. will post 2.6 EPS for the current fiscal year.
Several research firms have recently weighed in on CBG. Barclays PLC increased their price target on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a research note on Wednesday, August 2nd. UBS AG began coverage on CBRE Group in a research note on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price target for the company. BidaskClub downgraded CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Bank of America Corporation increased 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $40.33.
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In other CBRE Group news, insider Michael J. Lafitte sold 27,775 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $35.71, for a total value of $991,845.25. Following the completion of the transaction, the insider now owns 308,567 shares in the company, valued at approximately $11,018,927.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laurence H. Midler sold 14,614 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $35.42, for a total value of $517,627.88. Following the completion of the transaction, the executive vice president now owns 111,720 shares of the company’s stock, valued at approximately $3,957,122.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,706,467 shares of company stock valued at $205,082,221. 1.00% of the stock is owned by corporate insiders.
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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