Daiwa Securities Group Inc. Sells 3,039 Shares of CBRE Group, Inc. (CBG)
Daiwa Securities Group Inc. lowered its position in CBRE Group, Inc. (NYSE:CBG) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,706 shares of the financial services provider’s stock after selling 3,039 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CBRE Group were worth $3,663,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of CBG. Janus Henderson Group PLC lifted its position in shares of CBRE Group by 13,158.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,733,291 shares of the financial services provider’s stock worth $208,691,000 after buying an additional 5,690,048 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of CBRE Group by 273.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,275,845 shares of the financial services provider’s stock worth $119,241,000 after buying an additional 2,398,384 shares during the last quarter. AJO LP increased its holdings in shares of CBRE Group by 314.1% in the 2nd quarter. AJO LP now owns 2,887,891 shares of the financial services provider’s stock valued at $105,119,000 after acquiring an additional 2,190,476 shares during the period. Prudential Financial Inc. increased its holdings in shares of CBRE Group by 123.2% in the 2nd quarter. Prudential Financial Inc. now owns 3,626,928 shares of the financial services provider’s stock valued at $132,020,000 after acquiring an additional 2,002,209 shares during the period. Finally, Vanguard Group Inc. increased its stake in CBRE Group by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock valued at $1,059,662,000 after buying an additional 1,289,368 shares during the period. Institutional investors own 95.58% of the company’s stock.
Several equities research analysts have commented on CBG shares. Barclays PLC boosted their target price on shares of CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $36.00 target price on shares of CBRE Group in a report on Friday, July 21st. UBS AG initiated coverage on shares of CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a report on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $40.33.
In other CBRE Group news, insider Robert E. Sulentic sold 90,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $35.91, for a total value of $3,231,900.00. Following the sale, the insider now directly owns 833,590 shares of the company’s stock, valued at $29,934,216.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Concannon sold 25,000 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $39.02, for a total value of $975,500.00. The disclosure for this sale can be found here. Insiders have sold 5,706,467 shares of company stock worth $205,082,221 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
CBRE Group, Inc. (NYSE:CBG) opened at $40.81 on Friday. CBRE Group, Inc. has a one year low of $27.35 and a one year high of $41.25. The stock has a market capitalization of $13,790.00, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.20 and a beta of 1.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.17.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. analysts predict that CBRE Group, Inc. will post 2.63 EPS for the current fiscal year.
About CBRE Group
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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