Tocqueville Asset Management L.P. increased its stake in shares of CBRE Group Inc. (NYSE:CBG) by 258.6% during the second quarter, Holdings Channel reports. The firm owned 556,292 shares of the company’s stock after buying an additional 401,178 shares during the period. Tocqueville Asset Management L.P.’s holdings in CBRE Group were worth $14,731,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Integrated Investment Consultants LLC boosted 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 valued at $216,000 after buying an additional 62 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of CBRE Group by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 23,015 shares of the company’s stock valued at $609,000 after buying an additional 250 shares during the period. IFP Advisors Inc boosted 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 valued at $142,000 after buying an additional 476 shares during the period. FirstMerit Bank N A Trustee boosted its position in shares of CBRE Group by 2.7% in the second quarter. FirstMerit Bank N A Trustee now owns 22,595 shares of the company’s stock valued at $598,000 after buying an additional 603 shares during the period. Finally, DNB Asset Management AS boosted its position in shares of CBRE Group by 5.2% in the second quarter. DNB Asset Management AS now owns 14,179 shares of the company’s stock valued at $375,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 95.71% of the company’s stock.
CBRE Group Inc. (NYSE:CBG) traded down 0.30% during trading on Friday, reaching $26.52. The company’s stock had a trading volume of 1,573,013 shares. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 16.80 and a beta of 1.99. The firm has a 50 day moving average of $28.50 and a 200 day moving average of $28.78. CBRE Group Inc. has a 52 week low of $22.74 and a 52 week high of $38.49.
CBRE Group (NYSE:CBG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, topping the 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 business 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 company’s quarterly revenue was up 34.2% compared to the same quarter last year. Analysts expect that CBRE Group Inc. will post $2.20 EPS for the current year.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut CBRE Group from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Wedbush assumed coverage on CBRE Group in a research report on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. CBRE Group presently has an average rating of “Hold” and an average price target of $38.60.
In related news, insider Valueact Capital Master Fund, purchased 1,502,200 shares of CBRE Group stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $28.31 per share, with a total value of $42,527,282.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Holdings L.P. Valueact purchased 288,000 shares of CBRE Group stock in a transaction dated Monday, August 1st. The shares were bought at an average cost of $28.43 per share, for a total transaction of $8,187,840.00. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.
CBRE Group Company Profile
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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