CBRE Group Inc (CBG) is Suncoast Equity Management’s 5th Largest Position
Suncoast Equity Management reduced its stake in CBRE Group Inc (NYSE:CBG) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 457,140 shares of the financial services provider’s stock after selling 13,065 shares during the period. CBRE Group accounts for approximately 5.5% of Suncoast Equity Management’s investment portfolio, making the stock its 5th biggest position. Suncoast Equity Management’s holdings in CBRE Group were worth $19,799,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in CBG. Invictus RG acquired a new position in shares of CBRE Group in the third quarter valued at $104,000. Fieldpoint Private Securities LLC acquired a new position in shares of CBRE Group in the third quarter valued at $104,000. Cerebellum GP LLC acquired a new position in shares of CBRE Group in the fourth quarter valued at $127,000. Zions Bancorporation increased its holdings in shares of CBRE Group by 5,136.8% in the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 3,493 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of CBRE Group by 2,138.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,873 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 3,700 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.
Several research firms have commented on CBG. Wedbush reiterated an “outperform” rating and issued a $46.50 price objective on shares of CBRE Group in a report on Monday. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Friday, February 9th. Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Friday, February 9th. Raymond James Financial assumed coverage on shares of CBRE Group in a research note on Tuesday, February 6th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, William Blair restated an “outperform” rating on shares of CBRE Group in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $46.56.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.06. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the company posted $0.93 earnings per share. CBRE Group’s revenue was up 13.4% compared to the same quarter last year. research analysts anticipate that CBRE Group Inc will post 3.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.28%.
In other CBRE Group news, insider Robert E. Sulentic sold 40,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $42.56, for a total transaction of $1,702,400.00. Following the sale, the insider now directly owns 597,971 shares in the company, valued at $25,449,645.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Valueact Capital Master Fund, sold 882,206 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $42.84, for a total transaction of $37,793,705.04. The disclosure for this sale can be found here. Insiders sold 3,000,687 shares of company stock worth $128,188,805 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
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CBRE Group 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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