Jennison Associates LLC decreased its position in CBRE Group, Inc. (NYSE:CBG) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,083,407 shares of the financial services provider’s stock after selling 329,942 shares during the quarter. Jennison Associates LLC owned about 0.91% of CBRE Group worth $116,799,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Sentry Investment Management LLC grew its position in shares of CBRE Group by 0.3% in the second quarter. Sentry Investment Management LLC now owns 21,861 shares of the financial services provider’s stock valued at $796,000 after purchasing an additional 59 shares during the last quarter. Wetherby Asset Management Inc. grew its position 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 worth $509,000 after buying an additional 93 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in CBRE Group by 1.4% during the second quarter. Ameritas Investment Partners Inc. now owns 7,240 shares of the financial services provider’s stock worth $263,000 after buying an additional 99 shares in the last quarter. CIBC Asset Management Inc grew its position in CBRE Group by 0.4% during the second quarter. CIBC Asset Management Inc now owns 29,272 shares of the financial services provider’s stock worth $1,066,000 after buying an additional 113 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in CBRE Group by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the financial services provider’s stock worth $681,000 after buying an additional 200 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors.
In other CBRE Group news, insider Robert E. Sulentic sold 90,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $35.91, for a total transaction of $3,231,900.00. Following the completion of the sale, the insider now directly owns 833,590 shares in the company, valued at approximately $29,934,216.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Valueact Capital Master Fund, sold 5,500,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $35.90, for a total value of $197,450,000.00. The disclosure for this sale can be found here. Insiders sold 5,706,467 shares of company stock valued at $205,082,221 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
Shares of CBRE Group, Inc. (NYSE:CBG) traded up $0.72 on Friday, hitting $41.53. The stock had a trading volume of 3,092,000 shares, compared to its average volume of 1,871,129. CBRE Group, Inc. has a one year low of $27.35 and a one year high of $41.60. The company has a market cap of $14,097.73, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.22 and a beta of 1.83. The company has a quick ratio of 1.27, a current ratio of 1.17 and a debt-to-equity ratio of 0.66.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the company earned $0.50 EPS. CBRE Group’s revenue was up 11.2% compared to the same quarter last year. research analysts anticipate that CBRE Group, Inc. will post 2.63 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on CBG shares. Wedbush reissued an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a research report on Wednesday, August 2nd. Barclays PLC increased their price target on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. UBS AG began coverage on CBRE Group in a research report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price target on the stock. BidaskClub cut CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Bank of America Corporation upped their target price on CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. CBRE Group currently has a consensus rating of “Hold” and an average price target 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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