Investment analysts at Wedbush initiated coverage on shares of CBRE Group Inc. (NYSE:CBG) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the stock.
Separately, Zacks Investment Research lowered CBRE Group from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $39.50.
Shares of CBRE Group (NYSE:CBG) traded down 0.22% during midday trading on Wednesday, reaching $27.56. 2,293,193 shares of the company were exchanged. CBRE Group has a 12-month low of $22.74 and a 12-month high of $38.49. The company has a 50 day moving average price of $28.88 and a 200-day moving average price of $28.86. The stock has a market capitalization of $9.23 billion, a P/E ratio of 17.45 and a beta of 1.99.
CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, topping 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 business earned $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. CBRE Group’s revenue was up 34.2% on a year-over-year basis. On average, analysts forecast that CBRE Group will post $2.22 earnings per share for the current fiscal year.
In related news, insider Michael J. Lafitte sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the completion of the transaction, the insider now directly owns 338,053 shares in the company, valued at approximately $10,107,784.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Valueact Capital Master Fund, acquired 1,502,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average price of $28.31 per share, with a total value of $42,527,282.00. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC increased its position in shares of CBRE Group by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 11,133 shares of the company’s stock worth $295,000 after buying an additional 31 shares during the period. 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 period. Independent Portfolio Consultants Inc. increased its position in shares of CBRE Group by 0.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 24,596 shares of the company’s stock worth $688,000 after buying an additional 85 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in shares of CBRE Group by 2.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,641 shares of the company’s stock worth $182,000 after buying an additional 210 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased 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 worth $609,000 after buying an additional 250 shares during the period. Institutional investors own 95.71% 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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