B. Metzler seel. Sohn & Co. Holding AG purchased a new position in CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, HoldingsChannel reports. The firm purchased 27,546 shares of the financial services provider’s stock, valued at approximately $1,861,000.
A number of other institutional investors have also recently made changes to their positions in CBRE. Morgan Stanley boosted its stake in CBRE Group by 7.6% in the 3rd quarter. Morgan Stanley now owns 964,342 shares of the financial services provider’s stock worth $45,297,000 after purchasing an additional 68,084 shares in the last quarter. Public Sector Pension Investment Board raised its position in CBRE Group by 23.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 42,593 shares of the financial services provider’s stock worth $2,001,000 after buying an additional 8,016 shares during the last quarter. Captrust Financial Advisors raised its position in CBRE Group by 18.1% in the 3rd quarter. Captrust Financial Advisors now owns 2,741 shares of the financial services provider’s stock worth $130,000 after buying an additional 421 shares during the last quarter. Great West Life Assurance Co. Can raised its position in CBRE Group by 1.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 537,666 shares of the financial services provider’s stock worth $25,273,000 after buying an additional 8,329 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in CBRE Group by 1.8% in the 3rd quarter. California State Teachers Retirement System now owns 719,991 shares of the financial services provider’s stock worth $33,818,000 after buying an additional 12,911 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.
In related news, insider Chandra Dhandapani sold 7,773 shares of the business’s stock in a transaction that occurred on Tuesday, March 2nd. The stock was sold at an average price of $77.59, for a total transaction of $603,107.07. Following the completion of the transaction, the insider now directly owns 84,584 shares in the company, valued at approximately $6,562,872.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert E. Sulentic sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $79.33, for a total value of $2,379,900.00. Following the transaction, the chief executive officer now owns 864,947 shares of the company’s stock, valued at $68,616,245.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,068 shares of company stock valued at $3,005,639. 0.80% of the stock is currently owned by corporate insiders.
CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Monday, February 22nd. The financial services provider reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.51. CBRE Group had a net margin of 4.48% and a return on equity of 16.83%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that CBRE Group, Inc. will post 2.77 EPS for the current year.
A number of equities analysts have weighed in on CBRE shares. JPMorgan Chase & Co. boosted their target price on CBRE Group from $52.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, December 21st. Raymond James boosted their target price on CBRE Group from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, January 22nd. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, February 25th. Finally, The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research report on Monday, January 25th. They set a “buy” rating and a $74.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.57.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services for owners of and investors in office, industrial, and retail properties; 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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