State of Tennessee Treasury Department boosted its holdings in CBRE Group Inc (NYSE:CBG) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 647,691 shares of the financial services provider’s stock after buying an additional 76,444 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.19% of CBRE Group worth $28,052,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in CBG. Invictus RG acquired a new stake in CBRE Group in the third quarter valued at about $104,000. Fieldpoint Private Securities LLC acquired a new stake in CBRE Group in the third quarter valued at about $104,000. Cerebellum GP LLC acquired a new stake in CBRE Group in the fourth quarter valued at about $127,000. Tower Research Capital LLC TRC boosted its stake in CBRE Group by 818.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,059 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,726 shares in the last quarter. Finally, Zions Bancorporation boosted its stake in CBRE Group by 5,136.8% in the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after buying an additional 3,493 shares in the last quarter. 95.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of CBRE Group Inc (CBG) opened at $44.78 on Friday. CBRE Group Inc has a 12 month low of $32.30 and a 12 month high of $46.60. The company has a market capitalization of $15,200.00, a PE ratio of 18.28, a PEG ratio of 1.11 and a beta of 1.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 1.08.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.06. CBRE Group had a return on equity of 25.03% and a net margin of 4.87%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. sell-side 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. Stockholders of record on Monday, April 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.23%.
Several analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $46.50 price objective on shares of CBRE Group in a research note on Monday, February 12th. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Friday, February 9th. Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, February 9th. Raymond James Financial assumed coverage on CBRE Group in a research note on Tuesday, February 6th. They issued an “outperform” rating and a $55.00 price objective on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of CBRE Group in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. CBRE Group has a consensus rating of “Buy” and a consensus target price of $46.56.
In other news, insider Calvin W. Frese, Jr. sold 25,000 shares of CBRE Group stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $44.17, for a total transaction of $1,104,250.00. Following the sale, the insider now directly owns 213,121 shares of the company’s stock, valued at $9,413,554.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James R. Groch sold 50,000 shares of CBRE Group stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $45.03, for a total value of $2,251,500.00. Following the sale, the chief financial officer now directly owns 442,444 shares in the company, valued at $19,923,253.32. The disclosure for this sale can be found here. Insiders have sold 1,658,788 shares of company stock worth $70,908,318 over the last three months. Insiders own 1.00% of the company’s stock.
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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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