Earnest Partners LLC raised its holdings in CBRE Group Inc (NYSE:CBRE) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,667,068 shares of the financial services provider’s stock after purchasing an additional 22,396 shares during the quarter. Earnest Partners LLC’s holdings in CBRE Group were worth $85,521,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. BlackRock Inc. boosted its holdings in CBRE Group by 7.2% in the second quarter. BlackRock Inc. now owns 24,629,194 shares of the financial services provider’s stock valued at $1,263,479,000 after purchasing an additional 1,646,800 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in CBRE Group by 1.5% in the second quarter. Wells Fargo & Company MN now owns 7,479,778 shares of the financial services provider’s stock valued at $383,712,000 after purchasing an additional 108,247 shares during the last quarter. APG Asset Management N.V. boosted its holdings in CBRE Group by 125.4% in the second quarter. APG Asset Management N.V. now owns 4,537,700 shares of the financial services provider’s stock valued at $204,412,000 after purchasing an additional 2,524,700 shares during the last quarter. Northern Trust Corp boosted its holdings in CBRE Group by 0.8% in the second quarter. Northern Trust Corp now owns 4,132,816 shares of the financial services provider’s stock valued at $212,015,000 after purchasing an additional 33,614 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of CBRE Group by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 4,044,749 shares of the financial services provider’s stock worth $161,663,000 after acquiring an additional 232,271 shares during the period. 93.93% of the stock is currently owned by institutional investors.
In related news, insider James R. Groch sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $55.13, for a total transaction of $2,756,500.00. Following the completion of the transaction, the insider now owns 404,918 shares in the company, valued at approximately $22,323,129.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert E. Sulentic sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the transaction, the insider now owns 829,011 shares of the company’s stock, valued at approximately $41,450,550. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.
Shares of CBRE Group stock opened at $54.38 on Friday. The firm has a 50-day simple moving average of $52.37 and a two-hundred day simple moving average of $50.72. The company has a market cap of $18.74 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. CBRE Group Inc has a fifty-two week low of $37.45 and a fifty-two week high of $56.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.17.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.59 billion. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Equities research analysts forecast that CBRE Group Inc will post 3.75 EPS for the current year.
CBRE has been the subject of a number of analyst reports. Compass Point initiated coverage on shares of CBRE Group in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $54.00 price objective for the company. Raymond James upped their price objective on shares of CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Finally, UBS Group upped their price objective on shares of CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $57.40.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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