Sei Investments Co. Sells 8,449 Shares of CBRE Group, Inc. (CBG)
Sei Investments Co. lowered its position in shares of CBRE Group, Inc. (NYSE:CBG) by 24.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,678 shares of the financial services provider’s stock after selling 8,449 shares during the period. Sei Investments Co.’s holdings in CBRE Group were worth $1,011,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC lifted its stake in CBRE Group by 0.3% during the second quarter. Sentry Investment Management LLC now owns 21,861 shares of the financial services provider’s stock valued at $796,000 after buying an additional 59 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in CBRE Group by 0.7% during the second quarter. Wetherby Asset Management Inc. now owns 13,970 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 93 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of CBRE Group by 1.4% in the second quarter. Ameritas Investment Partners Inc. now owns 7,240 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 99 shares during the last quarter. CIBC Asset Management Inc lifted its position in CBRE Group by 0.4% in the second quarter. CIBC Asset Management Inc now owns 29,272 shares of the financial services provider’s stock worth $1,066,000 after purchasing an additional 113 shares during the period. Finally, Cutter & CO Brokerage Inc. lifted its holdings in shares of CBRE Group by 3.4% during the second quarter. Cutter & CO Brokerage Inc. now owns 6,902 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 95.00% of the company’s stock.
Shares of CBRE Group, Inc. (NYSE:CBG) opened at $43.62 on Friday. CBRE Group, Inc. has a 12 month low of $29.69 and a 12 month high of $44.04. The stock has a market capitalization of $14,875.10, a P/E ratio of 16.54, a PEG ratio of 1.26 and a beta of 1.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.28 and a current ratio of 1.28.
CBRE Group (NYSE:CBG) last posted its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 26.22% and a net margin of 5.75%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. research analysts forecast that CBRE Group, Inc. will post 2.67 earnings per share for the current year.
In other CBRE Group news, insider Calvin W. Frese, Jr. sold 11,307 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $40.00, for a total value of $452,280.00. Following the completion of the transaction, the insider now directly owns 246,473 shares in the company, valued at $9,858,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laurence H. Midler sold 7,878 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $40.69, for a total value of $320,555.82. Following the completion of the sale, the executive vice president now directly owns 82,663 shares of the company’s stock, valued at approximately $3,363,557.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,522,972 shares of company stock valued at $326,340,909. 1.00% of the stock is owned by corporate insiders.
A number of analysts recently commented on CBG shares. BidaskClub lowered CBRE Group from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Barclays boosted their target price on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. Finally, Bank of America boosted their target price on CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $40.33.
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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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