Daiwa Securities Group Inc. decreased its stake in shares of CBRE Group Inc. (NYSE:CBG) by 12.7% during the second quarter, Holdings Channel reports. The fund owned 78,800 shares of the company’s stock after selling 11,500 shares during the period. Daiwa Securities Group Inc.’s holdings in CBRE Group were worth $2,087,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC acquired a new position in CBRE Group during the first quarter valued at about $33,134,000. Exxonmobil Investment Management Inc. TX increased its position in CBRE Group by 6.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 75,540 shares of the company’s stock valued at $2,000,000 after buying an additional 4,740 shares during the last quarter. Massmutual Trust Co. FSB ADV acquired a new position in CBRE Group during the first quarter valued at about $2,367,000. Legal & General Group Plc increased its position in CBRE Group by 1.7% in the first quarter. Legal & General Group Plc now owns 1,189,946 shares of the company’s stock valued at $34,294,000 after buying an additional 20,037 shares during the last quarter. Finally, Trust Department MB Financial Bank N A increased its position in 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 valued at $108,000 after buying an additional 2,094 shares during the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.
Shares of CBRE Group Inc. (NYSE:CBG) traded down 0.58% during trading on Friday, reaching $29.14. 1,525,309 shares of the company were exchanged. The stock has a market capitalization of $9.76 billion, a PE ratio of 18.45 and a beta of 1.94. CBRE Group Inc. has a one year low of $22.74 and a one year high of $38.49. The stock has a 50-day moving average price of $29.23 and a 200-day moving average price of $28.81.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The company earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. CBRE Group’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. Analysts forecast that CBRE Group Inc. will post $2.22 EPS for the current year.
Separately, Zacks Investment Research downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th.
In related news, CFO James R. Groch sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer now owns 538,281 shares of the company’s stock, valued at $16,148,430. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Holdings L.P. Valueact acquired 1,212,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average cost of $28.28 per share, with a total value of $34,275,360.00. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.
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.
Want to see what other hedge funds are holding CBG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group Inc. (NYSE:CBG).
Receive News & Ratings for CBRE Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.