Cornerstone Wealth Management LLC bought a new position in shares of CBRE Group Inc (NYSE:CBG) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,710 shares of the financial services provider’s stock, valued at approximately $208,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invictus RG bought a new stake in CBRE Group during the third quarter worth $104,000. Fieldpoint Private Securities LLC bought a new stake in CBRE Group during the third quarter worth $104,000. Cerebellum GP LLC bought a new stake in CBRE Group during the fourth quarter worth $127,000. Tower Research Capital LLC TRC lifted its stake in CBRE Group by 818.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,059 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 2,726 shares during the last quarter. Finally, Zions Bancorporation lifted its stake 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 worth $135,000 after purchasing an additional 3,493 shares during the last quarter. Hedge funds and other institutional investors own 95.34% of the company’s stock.
Several equities research analysts have weighed in on the company. Raymond James Financial assumed coverage on CBRE Group in a research note on Tuesday, February 6th. They set an “outperform” rating and a $55.00 target price for the company. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Friday, February 9th. JMP Securities cut CBRE Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Bank of America upped their target price on CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Finally, Evercore ISI assumed coverage on CBRE Group in a research note on Monday, January 22nd. They issued an “in-line” rating and a $48.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $46.56.
In other news, CFO James R. Groch sold 50,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $45.03, for a total value of $2,251,500.00. Following the completion of the transaction, the chief financial officer now directly owns 442,444 shares in the company, valued at approximately $19,923,253.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Holdings L.P. Valueact sold 600,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $42.57, for a total value of $25,542,000.00. Following the completion of the transaction, the director now owns 267,446 shares of the company’s stock, valued at $11,385,176.22. The disclosure for this sale can be found here. Insiders sold a total of 1,658,788 shares of company stock valued at $70,908,318 over the last quarter. 1.00% of the stock is owned by corporate insiders.
CBRE Group Inc (NYSE CBG) opened at $45.95 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 $15,200.98, a price-to-earnings ratio of 22.64, a PEG ratio of 1.12 and a beta of 1.83. The company has a quick ratio of 1.28, a current ratio of 1.08 and a debt-to-equity ratio of 0.49.
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 company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the company earned $0.93 EPS. CBRE Group’s revenue was up 13.4% compared to the same quarter last year. sell-side analysts predict that CBRE Group Inc will post 3.07 earnings per share 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%.
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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.
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