Whitnell & Co. lifted its position in shares of CBRE Group Inc (NYSE:CBRE) by 13.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,400 shares of the financial services provider’s stock after purchasing an additional 1,100 shares during the quarter. Whitnell & Co.’s holdings in CBRE Group were worth $498,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of CBRE. Hexavest Inc. acquired a new stake in CBRE Group in the 2nd quarter valued at $30,000. Johnson Financial Group Inc. acquired a new stake in CBRE Group in the 2nd quarter valued at $30,000. Fulcrum Capital LLC acquired a new stake in CBRE Group in the 3rd quarter valued at $328,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CBRE Group in the 2nd quarter valued at $33,000. Finally, AdvisorNet Financial Inc grew its stake in CBRE Group by 461.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 730 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 600 shares during the period. 94.04% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Brandon B. Boze sold 3,000,000 shares of CBRE Group stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $53.86, for a total transaction of $161,580,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James R. Groch sold 75,000 shares of CBRE Group stock in a transaction on Friday, September 20th. The stock was sold at an average price of $54.10, for a total value of $4,057,500.00. Following the transaction, the insider now owns 318,000 shares in the company, valued at approximately $17,203,800. The disclosure for this sale can be found here. Insiders sold a total of 3,115,000 shares of company stock worth $167,637,500 in the last 90 days. 0.74% of the stock is currently owned by insiders.
CBRE stock traded up $0.39 during midday trading on Friday, reaching $54.89. The stock had a trading volume of 1,177,216 shares, compared to its average volume of 1,520,855. The company’s fifty day simple moving average is $52.56 and its 200 day simple moving average is $51.43. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.35 and a beta of 1.68. CBRE Group Inc has a 52-week low of $37.45 and a 52-week high of $56.60.
CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. CBRE Group had a return on equity of 24.14% and a net margin of 4.79%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. Sell-side analysts predict that CBRE Group Inc will post 3.75 EPS for the current year.
CBRE has been the topic of a number of research analyst reports. ValuEngine cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. assumed coverage on shares of CBRE Group in a research note on Tuesday, October 29th. They issued an “overweight” rating on the stock. Raymond James raised their price objective on CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Finally, UBS Group raised their price objective on CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. CBRE Group currently has an average rating of “Hold” and an average price target of $57.40.
CBRE Group 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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