CBRE Group, Inc. (CBG) Shares Sold by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. trimmed its position in CBRE Group, Inc. (NYSE:CBG) by 16.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,800 shares of the financial services provider’s stock after selling 10,900 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in CBRE Group were worth $2,152,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CBG. GQG Partners LLC purchased a new position in CBRE Group in the 2nd quarter worth approximately $122,000. BB&T Investment Services Inc. purchased a new position in CBRE Group in the 2nd quarter worth approximately $125,000. Advisor Group Inc. lifted its stake 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 purchasing an additional 337 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in CBRE Group in the 2nd quarter worth approximately $223,000. Finally, Gyroscope Capital Management Group LLC lifted its stake in CBRE Group by 7.2% in the 2nd quarter. Gyroscope Capital Management Group LLC now owns 6,432 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 432 shares in the last quarter. Institutional investors own 95.64% of the company’s stock.
A number of research analysts have weighed in on CBG shares. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a research note on Wednesday, August 2nd. Barclays PLC raised their target price on shares of CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. UBS AG started coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 target price on the stock. BidaskClub lowered shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. CBRE Group currently has a consensus rating of “Hold” and a consensus target price of $39.60.
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 consensus estimate of $0.54 by $0.10. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.45 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 earnings per share.
In related news, CEO William F. Concannon sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $39.02, for a total transaction of $975,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert E. Sulentic sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $35.91, for a total transaction of $3,231,900.00. Following the sale, the insider now owns 833,590 shares in the company, valued at approximately $29,934,216.90. The disclosure for this sale can be found here. Insiders sold 5,706,467 shares of company stock worth $205,082,221 over the last quarter. Company insiders own 1.00% of the company’s stock.
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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