Sumitomo Mitsui Trust Holdings Inc. Has $31.70 Million Stake in CBRE Group, Inc. (CBG)
Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of CBRE Group, Inc. (NYSE:CBG) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 836,885 shares of the financial services provider’s stock after selling 13,881 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of CBRE Group worth $31,701,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of CBG. GQG Partners LLC acquired a new position in shares of CBRE Group during the 2nd quarter worth approximately $122,000. BB&T Investment Services Inc. acquired a new position in shares of CBRE Group during the 2nd quarter worth approximately $125,000. Massey Quick Simon & CO. LLC acquired a new position in shares of CBRE Group during the 3rd quarter worth approximately $193,000. Advisor Group Inc. increased its holdings 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 last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of CBRE Group during the 2nd quarter worth approximately $223,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.
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A number of research analysts recently weighed in on the company. Barclays PLC boosted their target price on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a report on Wednesday, August 2nd. UBS Group AG assumed coverage on CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price objective on the stock. BidaskClub lowered CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Bank of America Corporation upped their price objective on CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. CBRE Group presently has an average rating of “Hold” and a consensus target price of $40.33.
In other news, insider Calvin W. Frese, Jr. sold 25,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $40.04, for a total transaction of $1,001,000.00. Following the sale, the insider now directly owns 246,473 shares of the company’s stock, valued at approximately $9,868,778.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Holdings L.P. Valueact sold 406,702 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $42.81, for a total value of $17,410,912.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,965,732 shares of company stock worth $259,955,447. 1.00% of the stock is currently owned by insiders.
CBRE Group, Inc. (NYSE:CBG) opened at $42.49 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. CBRE Group, Inc. has a 1-year low of $28.91 and a 1-year high of $43.35. The company has a market capitalization of $14,535.64, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.83.
CBRE Group (NYSE:CBG) last released its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.10. The company 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%. CBRE Group’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. equities research analysts predict that CBRE Group, Inc. will post 2.67 earnings per share for the current year.
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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