CBRE Group Inc (CBG) Stake Increased by Stifel Financial Corp
Stifel Financial Corp lifted its position in shares of CBRE Group Inc (NYSE:CBG) by 345.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,142 shares of the financial services provider’s stock after acquiring an additional 134,296 shares during the period. Stifel Financial Corp owned approximately 0.05% of CBRE Group worth $6,508,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of CBG. Strs Ohio lifted its stake in CBRE Group by 53.7% in the 2nd quarter. Strs Ohio now owns 17,701 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 6,183 shares during the last quarter. Sei Investments Co. lifted its stake in CBRE Group by 405.4% in the 2nd quarter. Sei Investments Co. now owns 35,127 shares of the financial services provider’s stock valued at $1,279,000 after purchasing an additional 28,177 shares during the last quarter. Global X Management Co. LLC lifted its stake in CBRE Group by 11.4% in the 2nd quarter. Global X Management Co. LLC now owns 13,840 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 1,415 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in CBRE Group by 2.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 982,973 shares of the financial services provider’s stock valued at $35,781,000 after purchasing an additional 24,191 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in CBRE Group by 25.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 64,224 shares of the financial services provider’s stock valued at $2,338,000 after purchasing an additional 12,996 shares during the last quarter. 95.00% of the stock is owned by institutional investors.
CBRE Group Inc (NYSE:CBG) opened at $42.58 on Friday. The company has a market cap of $14,664.63, a P/E ratio of 16.30, a P/E/G ratio of 1.25 and a beta of 1.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28. CBRE Group Inc has a 52 week low of $29.69 and a 52 week high of $44.04.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.45 billion. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. equities analysts expect that CBRE Group Inc will post 2.67 earnings per share for the current year.
In other CBRE Group news, CEO William F. Concannon sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $39.02, for a total value of $975,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Calvin W. Frese, Jr. sold 11,307 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $40.00, for a total transaction of $452,280.00. Following the completion of the transaction, the insider now owns 246,473 shares of the company’s stock, valued at $9,858,920. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,049,872 shares of company stock valued at $130,055,941. Corporate insiders own 1.00% of the company’s stock.
Separately, Bank of America increased their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. CBRE Group currently has a consensus rating of “Hold” and an average target price of $40.33.
CBRE Group Company 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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