RWC Asset Management LLP increased its stake in shares of CBRE Group, Inc. (NYSE:CBG) by 22.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 537,321 shares of the financial services provider’s stock after acquiring an additional 99,784 shares during the quarter. CBRE Group comprises about 1.2% of RWC Asset Management LLP’s portfolio, making the stock its 28th largest holding. RWC Asset Management LLP owned approximately 0.16% of CBRE Group worth $20,354,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Invictus RG bought a new position in shares of CBRE Group during the third quarter worth $104,000. GQG Partners LLC bought a new position in shares of CBRE Group during the second quarter worth $122,000. BB&T Investment Services Inc. bought a new position in CBRE Group during the second quarter valued at $125,000. Zions Bancorporation lifted its position in CBRE Group by 5,136.8% during the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 3,493 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC bought a new position in CBRE Group during the third quarter valued at $193,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.
Shares of CBRE Group, Inc. (NYSE:CBG) opened at $43.33 on Wednesday. CBRE Group, Inc. has a 12 month low of $29.69 and a 12 month high of $44.04. The firm has a market cap of $14,715.55, a price-to-earnings ratio of 16.36, a PEG ratio of 1.25 and a beta of 1.86. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66.
CBRE Group (NYSE:CBG) last announced its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. sell-side analysts expect that CBRE Group, Inc. will post 2.67 EPS for the current year.
In related news, insider Valueact Capital Master Fund, sold 5,500,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $35.90, for a total value of $197,450,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Laurence H. Midler sold 7,878 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $40.69, for a total transaction of $320,555.82. Following the completion of the transaction, the executive vice president now directly owns 82,663 shares in the company, valued at approximately $3,363,557.47. The disclosure for this sale can be found here. In the last three months, insiders sold 8,522,972 shares of company stock worth $326,340,909. Insiders own 1.00% of the company’s stock.
Several equities analysts have commented on the stock. Barclays increased their price objective on shares of CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Bank of America increased their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. CBRE Group presently has an average rating of “Hold” and a consensus target price of $40.33.
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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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