State of Wisconsin Investment Board grew its stake in shares of CBRE Group Inc (NYSE:CBG) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 571,268 shares of the financial services provider’s stock after purchasing an additional 5,374 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.17% of CBRE Group worth $24,742,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in CBG. Old Mutual Global Investors UK Ltd. raised its holdings in CBRE Group by 2,969.2% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,151,635 shares of the financial services provider’s stock worth $43,623,000 after purchasing an additional 1,114,113 shares in the last quarter. State Treasurer State of Michigan raised its holdings in CBRE Group by 650.5% during the third quarter. State Treasurer State of Michigan now owns 741,732 shares of the financial services provider’s stock worth $28,097,000 after purchasing an additional 642,900 shares in the last quarter. YCG LLC raised its holdings in CBRE Group by 3,441.9% during the third quarter. YCG LLC now owns 317,604 shares of the financial services provider’s stock worth $12,057,000 after purchasing an additional 308,637 shares in the last quarter. APG Asset Management N.V. raised its holdings in CBRE Group by 154.6% during the fourth quarter. APG Asset Management N.V. now owns 446,600 shares of the financial services provider’s stock worth $16,108,000 after purchasing an additional 271,200 shares in the last quarter. Finally, AXA raised its holdings in CBRE Group by 253.2% during the third quarter. AXA now owns 351,800 shares of the financial services provider’s stock worth $13,326,000 after purchasing an additional 252,187 shares in the last quarter. 95.34% of the stock is currently owned by institutional investors.
In related news, insider Robert E. Sulentic sold 40,000 shares of CBRE Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $42.56, for a total value of $1,702,400.00. Following the transaction, the insider now directly owns 597,971 shares in the company, valued at approximately $25,449,645.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Valueact Capital Master Fund, sold 846,000 shares of CBRE Group stock in a transaction on Monday, November 27th. The shares were sold at an average price of $42.60, for a total transaction of $36,039,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,728,167 shares of company stock worth $73,882,983. Insiders own 1.00% of the company’s stock.
CBRE Group Inc (CBG) opened at $45.20 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49. The stock has a market cap of $15,343.55, a P/E ratio of 22.27, a PEG ratio of 1.13 and a beta of 1.83. CBRE Group Inc has a 1 year low of $32.30 and a 1 year high of $46.60.
CBRE Group (NYSE:CBG) last announced its earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. research analysts predict that CBRE Group Inc will post 3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%.
A number of analysts have weighed in on CBG shares. Bank of America raised their price objective 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. Barclays reissued a “buy” rating and set a $47.00 price objective on shares of CBRE Group in a report on Wednesday, December 27th. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Evercore ISI began coverage on shares of CBRE Group in a research report on Monday, January 22nd. They set an “in-line” rating and a $48.00 target price on the stock. Finally, JMP Securities lowered shares of CBRE Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. CBRE Group has a consensus rating of “Buy” and a consensus target price of $46.56.
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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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