Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 21,360 shares of the financial services provider’s stock, valued at approximately $941,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. acquired a new position in CBRE Group during the 1st quarter worth about $122,000. Legacy Private Trust Co. acquired a new position in CBRE Group during the 2nd quarter worth about $229,000. Commonwealth Equity Services LLC bought a new position in shares of CBRE Group in the 1st quarter worth about $273,000. Mount Yale Investment Advisors LLC bought a new position in shares of CBRE Group in the 1st quarter worth about $360,000. Finally, United Capital Financial Advisers LLC bought a new position in shares of CBRE Group in the 1st quarter worth about $381,000. 94.75% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO William F. Concannon sold 28,878 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $47.47, for a total value of $1,370,838.66. Following the completion of the sale, the chief executive officer now directly owns 204,631 shares of the company’s stock, valued at approximately $9,713,833.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.
Several research analysts have recently weighed in on CBRE shares. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, August 6th. ValuEngine lowered CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Barclays lifted their price objective on CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.19.
CBRE stock opened at $39.55 on Friday. CBRE Group Inc has a 1-year low of $38.53 and a 1-year high of $50.43. The stock has a market capitalization of $13.44 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.13 and a quick ratio of 1.13.
CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, August 2nd. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. CBRE Group had a return on equity of 23.53% and a net margin of 4.21%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.72 billion. CBRE Group’s revenue was up 15.1% compared to the same quarter last year. Analysts expect that CBRE Group Inc will post 3.16 earnings per share for the current year.
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.
See Also: Stock Selection – What is cash flow?
Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.