CBRE Group, Inc. (NYSE:CBG) Now Covered by UBS AG
UBS AG initiated coverage on shares of CBRE Group, Inc. (NYSE:CBG) in a research note released on Wednesday, 99wallstreet.com reports. The firm issued a neutral rating and a $41.00 price objective on the financial services provider’s stock.
Several other equities analysts have also commented on the company. Zacks Investment Research lowered CBRE Group from a buy rating to a hold rating in a research report on Tuesday, April 18th. Wedbush reaffirmed an outperform rating and issued a $38.00 price target on shares of CBRE Group in a research report on Monday, April 17th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $36.00 price target on shares of CBRE Group in a research report on Tuesday, May 30th. Finally, Barclays PLC lifted their price target on CBRE Group from $40.00 to $42.00 and gave the stock an overweight rating in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $39.40.
Shares of CBRE Group (NYSE CBG) opened at 37.63 on Wednesday. The firm’s 50-day moving average is $36.58 and its 200-day moving average is $34.65. CBRE Group has a 52 week low of $25.40 and a 52 week high of $38.99. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 18.37 and a beta of 1.83.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Equities research analysts predict that CBRE Group will post $2.47 earnings per share for the current year.
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In other news, insider Michael J. Lafitte sold 15,000 shares of CBRE Group stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $37.02, for a total value of $555,300.00. Following the completion of the transaction, the insider now owns 369,774 shares of the company’s stock, valued at approximately $13,689,033.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William F. Concannon sold 20,000 shares of CBRE Group stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $38.09, for a total value of $761,800.00. Following the completion of the transaction, the chief executive officer now directly owns 233,896 shares of the company’s stock, valued at approximately $8,909,098.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,000 shares of company stock valued at $1,865,650. 1.00% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in CBRE Group by 4.2% in the first quarter. Nationwide Fund Advisors now owns 717,301 shares of the financial services provider’s stock valued at $24,955,000 after buying an additional 29,004 shares in the last quarter. Global Thematic Partners LLC boosted its position in CBRE Group by 8.1% in the first quarter. Global Thematic Partners LLC now owns 1,306,163 shares of the financial services provider’s stock valued at $45,442,000 after buying an additional 97,368 shares in the last quarter. Teachers Advisors LLC boosted its position in CBRE Group by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 430,612 shares of the financial services provider’s stock valued at $13,560,000 after buying an additional 11,786 shares in the last quarter. National Pension Service boosted its position in CBRE Group by 16,166.0% in the first quarter. National Pension Service now owns 311,168 shares of the financial services provider’s stock valued at $10,810,000 after buying an additional 309,255 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in CBRE Group by 8.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 438,054 shares of the financial services provider’s stock valued at $15,241,000 after buying an additional 33,939 shares during the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.
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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