Alps Advisors Inc. decreased its position in shares of CBRE Group Inc. (NYSE:CBG) by 5.2% during the second quarter, Holdings Channel reports. The firm owned 16,348 shares of the company’s stock after selling 888 shares during the period. Alps Advisors Inc.’s holdings in CBRE Group were worth $433,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Trust Department MB Financial Bank N A increased its position in shares of CBRE Group by 252.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,922 shares of the company’s stock worth $108,000 after buying an additional 2,094 shares during the last quarter. IFP Advisors Inc increased its position in shares of CBRE Group by 10.7% in the first quarter. IFP Advisors Inc now owns 4,935 shares of the company’s stock worth $142,000 after buying an additional 476 shares during the last quarter. Integrated Investment Consultants LLC increased its position in shares of CBRE Group by 0.8% in the second quarter. Integrated Investment Consultants LLC now owns 8,154 shares of the company’s stock worth $216,000 after buying an additional 62 shares during the last quarter. Parkwood LLC acquired a new position in shares of CBRE Group during the second quarter worth $247,000. Finally, Seven Eight Capital LLC increased its position in shares of CBRE Group by 1,137.2% in the first quarter. Seven Eight Capital LLC now owns 10,009 shares of the company’s stock worth $288,000 after buying an additional 9,200 shares during the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.
CBRE Group Inc. (NYSE:CBG) traded up 0.98% during midday trading on Thursday, hitting $27.83. 2,043,543 shares of the company were exchanged. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 17.63 and a beta of 1.99. The stock has a 50 day moving average of $28.79 and a 200-day moving average of $28.84. CBRE Group Inc. has a 1-year low of $22.74 and a 1-year high of $38.49.
CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. Equities analysts expect that CBRE Group Inc. will post $2.20 earnings per share for the current year.
A number of equities analysts have recently weighed in on CBG shares. Zacks Investment Research downgraded CBRE Group from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Wedbush initiated coverage on shares of CBRE Group in a report on Wednesday. They issued an “outperform” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.60.
In other CBRE Group news, insider Valueact Capital Master Fund, purchased 1,502,200 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $28.31 per share, for a total transaction of $42,527,282.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Holdings L.P. Valueact purchased 288,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $28.43 per share, for a total transaction of $8,187,840.00. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is 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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