Ellington Management Group LLC Invests $784,000 in CBRE Group Inc (CBG)
Ellington Management Group LLC purchased a new stake in shares of CBRE Group Inc (NYSE:CBG) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 18,100 shares of the financial services provider’s stock, valued at approximately $784,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Invictus RG acquired a new stake in shares of CBRE Group during the third quarter valued at about $104,000. Fieldpoint Private Securities LLC acquired a new stake in shares of CBRE Group during the third quarter valued at about $104,000. Cerebellum GP LLC acquired a new stake in shares of CBRE Group during the fourth quarter valued at about $127,000. Tower Research Capital LLC TRC increased its position in shares of CBRE Group by 818.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,059 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 2,726 shares during the last quarter. Finally, Zions Bancorporation increased its position in shares of CBRE Group by 5,136.8% during the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 3,493 shares during the last quarter. Institutional investors and hedge funds own 94.31% of the company’s stock.
In other news, insider Calvin W. Frese, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $44.17, for a total value of $1,104,250.00. Following the completion of the transaction, the insider now owns 213,121 shares of the company’s stock, valued at $9,413,554.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert E. Sulentic sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 597,971 shares of the company’s stock, valued at approximately $25,449,645.76. The disclosure for this sale can be found here. In the last three months, insiders sold 5,148,807 shares of company stock valued at $235,492,603. Insiders own 1.00% of the company’s stock.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.06. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. sell-side analysts expect that CBRE Group Inc will post 3.07 EPS 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.10%.
CBG has been the subject of a number of recent analyst reports. Barclays reiterated a “buy” rating and set a $47.00 price target on shares of CBRE Group in a research report on Wednesday, December 27th. Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. JMP Securities cut shares of CBRE Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Evercore ISI initiated coverage on shares of CBRE Group in a research note on Monday, January 22nd. They issued an “in-line” rating and a $48.00 price objective for the company. Finally, Raymond James Financial initiated coverage on shares of CBRE Group in a research note on Tuesday, February 6th. They issued an “outperform” rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. CBRE Group presently has a consensus rating of “Buy” and an average target price of $47.28.
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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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