New York State Common Retirement Fund grew its holdings in shares of CBRE Group, Inc. (NYSE:CBG) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,156,911 shares of the financial services provider’s stock after purchasing an additional 10,743 shares during the quarter. New York State Common Retirement Fund owned about 0.34% of CBRE Group worth $43,824,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC bought a new position in CBRE Group in the 2nd quarter worth $122,000. BB&T Investment Services Inc. bought a new position in CBRE Group in the 2nd quarter worth $125,000. Advisor Group Inc. raised its holdings in CBRE Group by 6.6% in 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 period. Sheaff Brock Investment Advisors LLC bought a new position in CBRE Group in the 2nd quarter worth $223,000. Finally, Gyroscope Capital Management Group LLC raised its holdings in CBRE Group by 7.2% in the 2nd quarter. Gyroscope Capital Management Group LLC now owns 6,432 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 432 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 $43.82 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. The stock has a market cap of $14,783.44, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.26 and a beta of 1.86. CBRE Group, Inc. has a 12-month low of $29.69 and a 12-month high of $44.04.
CBRE Group (NYSE:CBG) last posted its quarterly 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 net margin of 5.75% and a return on equity of 26.22%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. sell-side analysts predict that CBRE Group, Inc. will post 2.67 earnings per share for the current fiscal year.
In other news, CEO William F. Concannon sold 25,000 shares of CBRE Group stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $39.02, for a total transaction of $975,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Valueact Capital Master Fund, sold 5,500,000 shares of CBRE Group stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $35.90, for a total transaction of $197,450,000.00. The disclosure for this sale can be found here. Insiders sold a total of 8,522,972 shares of company stock worth $326,340,909 over the last 90 days. Company insiders own 1.00% of the company’s stock.
Several research analysts recently commented on the stock. BidaskClub downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Barclays lifted their target price on shares of CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Finally, Bank of America lifted their target price on shares of CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $40.33.
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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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