Suncoast Equity Management lowered its position in shares of CBRE Group Inc (NYSE:CBG) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 457,140 shares of the financial services provider’s stock after selling 13,065 shares during the quarter. CBRE Group accounts for about 5.5% of Suncoast Equity Management’s investment portfolio, making the stock its 5th biggest holding. Suncoast Equity Management owned about 0.13% of CBRE Group worth $19,799,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invictus RG acquired a new position in shares of CBRE Group in the third quarter valued at approximately $104,000. Fieldpoint Private Securities LLC bought a new stake in shares of CBRE Group in the third quarter worth $104,000. Cerebellum GP LLC bought a new stake in shares of CBRE Group in the fourth quarter worth $127,000. Zions Bancorporation lifted its position in shares of CBRE Group by 5,136.8% in the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 3,493 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of CBRE Group by 2,138.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,873 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 3,700 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.
In other CBRE Group news, Director Holdings L.P. Valueact sold 84,500 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $42.82, for a total value of $3,618,290.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Valueact Capital Master Fund, sold 882,206 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $42.84, for a total transaction of $37,793,705.04. The disclosure for this sale can be found here. Insiders have sold 3,000,687 shares of company stock worth $128,188,805 over the last ninety days. Insiders own 1.00% of the company’s stock.
A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Friday, February 9th. ValuEngine raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Wedbush reissued an “outperform” rating and issued a $46.50 price objective on shares of CBRE Group in a research report on Monday. William Blair reissued an “outperform” rating on shares of CBRE Group in a research report on Friday, February 2nd. Finally, Raymond James Financial assumed coverage on shares of CBRE Group in a research report on Tuesday, February 6th. They issued an “outperform” rating and a $55.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. CBRE Group presently has a consensus rating of “Buy” and an average target price of $46.56.
Shares of CBRE Group Inc (NYSE CBG) opened at $43.79 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49. CBRE Group Inc has a 1 year low of $32.30 and a 1 year high of $46.60. The stock has a market cap of $14,980.00, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.08 and a beta of 1.83.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. equities analysts anticipate that CBRE Group Inc will post 3.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 22nd. Shareholders of record on Monday, April 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.28%.
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About CBRE Group
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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