Anchor Capital Advisors LLC bought a new stake in CBRE Group (NYSE:CBRE) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the financial services provider’s stock, valued at approximately $944,000.
Other large investors also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC purchased a new position in CBRE Group in the first quarter valued at $122,000. Signaturefd LLC purchased a new position in CBRE Group in the first quarter valued at $143,000. Wellington Shields & Co. LLC purchased a new position in CBRE Group in the first quarter valued at $212,000. Windsor Group LTD purchased a new stake in CBRE Group during the 1st quarter worth about $212,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in CBRE Group during the 1st quarter worth about $239,000. Hedge funds and other institutional investors own 92.96% of the company’s stock.
In other news, insider Michael J. Lafitte sold 16,775 shares of the business’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $47.23, for a total value of $792,283.25. Following the completion of the sale, the insider now directly owns 339,780 shares of the company’s stock, valued at approximately $16,047,809.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura D. Tyson sold 1,886 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $47.49, for a total value of $89,566.14. Following the completion of the sale, the director now directly owns 33,257 shares of the company’s stock, valued at $1,579,374.93. The disclosure for this sale can be found here. Insiders sold a total of 5,111,624 shares of company stock valued at $234,199,723 over the last three months. Company insiders own 0.88% of the company’s stock.
CBRE Group opened at $47.75 on Friday, Marketbeat.com reports. CBRE Group has a fifty-two week low of $34.14 and a fifty-two week high of $48.44. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $16.20 billion, a PE ratio of 17.62, a PEG ratio of 1.18 and a beta of 1.70.
CBRE Group (NYSE:CBRE) last posted its earnings results on Wednesday, May 2nd. The financial services provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.05. CBRE Group had a return on equity of 24.15% and a net margin of 4.48%. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the business earned $0.43 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. equities research analysts expect that CBRE Group will post 3.12 EPS for the current year.
CBRE has been the subject of a number of recent analyst reports. Barclays lifted their price target on CBRE Group from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. ValuEngine raised CBRE Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. William Blair reaffirmed an “outperform” rating on shares of CBRE Group in a report on Friday, February 2nd. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Friday, February 2nd. Finally, Raymond James initiated coverage on CBRE Group in a report on Tuesday, February 6th. They set an “outperform” rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.55.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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