Sterling Capital Management LLC cut its stake in CBRE Group, Inc. (NYSE:CBG) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,178,996 shares of the financial services provider’s stock after selling 107,733 shares during the quarter. CBRE Group comprises about 1.5% of Sterling Capital Management LLC’s holdings, making the stock its largest position. Sterling Capital Management LLC owned 1.23% of CBRE Group worth $158,300,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in CBG. Janus Henderson Group PLC grew its position in CBRE Group by 13,158.3% during the second quarter. Janus Henderson Group PLC now owns 5,733,291 shares of the financial services provider’s stock worth $208,691,000 after buying an additional 5,690,048 shares in the last quarter. Alliancebernstein L.P. grew its position in CBRE Group by 273.3% during the second quarter. Alliancebernstein L.P. now owns 3,275,845 shares of the financial services provider’s stock worth $119,241,000 after buying an additional 2,398,384 shares in the last quarter. AJO LP grew its position in CBRE Group by 314.1% during the second quarter. AJO LP now owns 2,887,891 shares of the financial services provider’s stock worth $105,119,000 after buying an additional 2,190,476 shares in the last quarter. Prudential Financial Inc. grew its position in CBRE Group by 123.2% during the second quarter. Prudential Financial Inc. now owns 3,626,928 shares of the financial services provider’s stock worth $132,020,000 after buying an additional 2,002,209 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of CBRE Group by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock worth $1,059,662,000 after purchasing an additional 1,289,368 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.
In other news, insider Valueact Capital Master Fund, sold 5,500,000 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Concannon sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $39.02, for a total value of $975,500.00. The disclosure for this sale can be found here. Insiders sold a total of 8,522,972 shares of company stock valued at $326,340,909 over the last quarter. Company insiders own 1.00% of the company’s stock.
CBRE Group, Inc. (NYSE CBG) opened at $43.35 on Tuesday. CBRE Group, Inc. has a fifty-two week low of $29.69 and a fifty-two week high of $44.04. 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 capitalization of $14,807.21, a PE ratio of 16.46, a PEG ratio of 1.26 and a beta of 1.86.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The firm 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 business earned $0.50 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. research analysts anticipate that CBRE Group, Inc. will post 2.67 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Barclays upped their price objective on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Bank of America upped their price objective on CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report 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 given a buy rating to the company. CBRE Group currently has a consensus rating of “Hold” and a consensus price target 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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