Virginia Retirement Systems ET AL purchased a new position in CBRE Group Inc. (NYSE:CBG) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 52,800 shares of the company’s stock, valued at approximately $1,398,000.
Other hedge funds have also recently modified their holdings of the company. Trust Department MB Financial Bank N A raised 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 worth $108,000 after buying an additional 2,094 shares during the period. Assetmark Inc. raised its position in CBRE Group by 56.1% in the second quarter. Assetmark Inc. now owns 4,515 shares of the company’s stock worth $120,000 after buying an additional 1,622 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in CBRE Group by 139.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,801 shares of the company’s stock worth $127,000 after buying an additional 2,800 shares during the period. IFP Advisors Inc raised its position in 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 period. Finally, Huntington National Bank raised its position in CBRE Group by 340.3% in the second quarter. Huntington National Bank now owns 6,631 shares of the company’s stock worth $176,000 after buying an additional 5,125 shares during the period. 95.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CBRE Group Inc. (NYSE:CBG) opened at 28.505 on Wednesday. The stock has a market cap of $9.55 billion, a P/E ratio of 18.053 and a beta of 1.94. CBRE Group Inc. has a 52-week low of $22.74 and a 52-week high of $38.49. The firm has a 50-day moving average price of $29.15 and a 200-day moving average price of $28.85.
CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. CBRE Group had a return on equity of 26.58% and a net margin of 4.28%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, analysts anticipate that CBRE Group Inc. will post $2.22 EPS for the current fiscal year.
Separately, Zacks Investment Research lowered CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th.
In related news, insider Valueact Capital Master Fund, acquired 182,060 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $28.50 per share, with a total value of $5,188,710.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Holdings L.P. Valueact acquired 1,212,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $28.28 per share, for a total transaction of $34,275,360.00. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.
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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