Gryphon Financial Partners LLC purchased a new position in shares of CBRE Group Inc (NYSE:CBRE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,123 shares of the financial services provider’s stock, valued at approximately $226,000.
A number of other large investors have also modified their holdings of the stock. Achmea Investment Management B.V. acquired a new stake in CBRE Group during the 3rd quarter worth $3,276,000. Progressive Investment Management Corp purchased a new position in CBRE Group during the 3rd quarter worth $3,791,000. SRS Capital Advisors Inc. purchased a new position in CBRE Group during the 3rd quarter worth $156,000. Unigestion Holding SA purchased a new position in CBRE Group during the 3rd quarter worth $1,265,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in CBRE Group during the 3rd quarter worth $2,089,000. Hedge funds and other institutional investors own 94.53% of the company’s stock.
Shares of CBRE Group stock opened at $42.99 on Friday. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.05 and a beta of 1.76. The company has a quick ratio of 1.13, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. CBRE Group Inc has a one year low of $38.05 and a one year high of $50.43.
CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The company had revenue of $5.26 billion during the quarter, compared to the consensus estimate 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 was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that CBRE Group Inc will post 3.2 earnings per share for the current year.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Barclays upped their price objective on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. ValuEngine downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Bank of America cut 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 report on Friday, November 2nd. 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. CBRE Group currently has a consensus rating of “Buy” and a consensus price target of $52.56.
In other news, CEO William F. Concannon sold 28,878 shares of the stock in a transaction dated 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 owns 204,631 shares in the company, valued at approximately $9,713,833.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.
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About CBRE Group
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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