Livforsakringsbolaget Skandia Omsesidigt lessened its stake in shares of CBRE Group Inc (NYSE:CBRE) by 36.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,910 shares of the financial services provider’s stock after selling 1,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in CBRE Group were worth $128,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of CBRE. Allianz Asset Management GmbH acquired a new stake in shares of CBRE Group during the 1st quarter worth about $10,230,000. Brown Advisory Inc. acquired a new stake in CBRE Group in the 1st quarter worth about $1,236,000. DnB Asset Management AS raised its stake in CBRE Group by 6.3% in the 2nd quarter. DnB Asset Management AS now owns 42,079 shares of the financial services provider’s stock worth $2,009,000 after purchasing an additional 2,500 shares in the last quarter. IFM Investors Pty Ltd raised its stake in CBRE Group by 44.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 15,628 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 4,841 shares in the last quarter. Finally, Swedbank acquired a new stake in CBRE Group in the 2nd quarter worth about $106,645,000. Institutional investors own 94.53% of the company’s stock.
Several analysts have weighed in on the stock. ValuEngine cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Barclays lifted their price objective on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Monday, August 6th. Finally, Bank of America dropped their price objective on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $52.56.
Shares of CBRE Group stock opened at $41.74 on Monday. CBRE Group Inc has a twelve month low of $38.05 and a twelve month high of $50.43. The company has a quick ratio of 1.13, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.01 and a beta of 1.76.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. The business had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.17 billion. CBRE Group had a net margin of 4.32% and a return on equity of 23.45%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that CBRE Group Inc will post 3.18 EPS for the current fiscal year.
In other news, CEO William F. Concannon sold 28,878 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $47.47, for a total value of $1,370,838.66. Following the completion of the transaction, the chief executive officer now directly owns 204,631 shares in the company, valued at approximately $9,713,833.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by insiders.
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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