Convergence Investment Partners LLC Invests $1.84 Million in CBRE Group Inc (CBG)

Convergence Investment Partners LLC bought a new stake in CBRE Group Inc (NYSE:CBG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,413 shares of the financial services provider’s stock, valued at approximately $1,837,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CBG. Janus Henderson Group PLC raised its stake in shares of CBRE Group by 13,158.3% in the second quarter. Janus Henderson Group PLC now owns 5,733,291 shares of the financial services provider’s stock valued at $208,691,000 after purchasing an additional 5,690,048 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CBRE Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock valued at $1,059,662,000 after purchasing an additional 1,289,368 shares in the last quarter. BlackRock Inc. raised its stake in shares of CBRE Group by 6.1% in the second quarter. BlackRock Inc. now owns 20,546,977 shares of the financial services provider’s stock valued at $747,911,000 after purchasing an additional 1,175,336 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of CBRE Group by 2,969.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,151,635 shares of the financial services provider’s stock valued at $43,623,000 after purchasing an additional 1,114,113 shares in the last quarter. Finally, FMR LLC raised its stake in shares of CBRE Group by 10.6% in the second quarter. FMR LLC now owns 10,837,894 shares of the financial services provider’s stock valued at $394,500,000 after purchasing an additional 1,040,182 shares in the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.

In other CBRE Group news, insider Calvin W. Frese, Jr. sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $41.01, for a total value of $820,200.00. Following the sale, the insider now directly owns 201,673 shares in the company, valued at $8,270,609.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Calvin W. Frese, Jr. sold 25,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $40.04, for a total value of $1,001,000.00. Following the completion of the sale, the insider now owns 246,473 shares in the company, valued at $9,868,778.92. The disclosure for this sale can be found here. Insiders sold 3,013,565 shares of company stock worth $128,628,161 over the last quarter. Company insiders own 1.00% of the company’s stock.

CBG has been the subject of a number of recent research reports. Barclays restated a “buy” rating and issued a $47.00 target price on shares of CBRE Group in a research note on Wednesday, December 27th. Bank of America upped their target price on CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Finally, Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $42.83.

CBRE Group Inc (NYSE:CBG) opened at $44.99 on Thursday. CBRE Group Inc has a 12 month low of $29.69 and a 12 month high of $45.51. The company has a market capitalization of $15,156.85, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.23 and a beta of 1.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28.

CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. research analysts predict that CBRE Group Inc will post 2.66 EPS for the current fiscal year.

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CBRE Group 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.

Institutional Ownership by Quarter for CBRE Group (NYSE:CBG)

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