Cypress Capital Group purchased a new stake in CBRE Group, Inc. (NYSE:CBG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,000 shares of the financial services provider’s stock, valued at approximately $364,000.
Other large investors have also recently made changes to their positions in the company. Harbour Capital Advisors LLC bought a new position in CBRE Group in the 1st quarter valued at $118,000. GQG Partners LLC bought a new position in CBRE Group in the 2nd quarter valued at $122,000. Advisor Group Inc. boosted its holdings in CBRE Group by 6.6% in the 2nd quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 337 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in CBRE Group in the 1st quarter valued at $206,000. Finally, Harbor Advisors LLC bought a new position in CBRE Group in the 1st quarter valued at $209,000. 95.66% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Laurence H. Midler sold 14,614 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $35.42, for a total transaction of $517,627.88. Following the completion of the transaction, the executive vice president now owns 111,720 shares in the company, valued at $3,957,122.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Valueact Capital Master Fund, sold 5,500,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.90, for a total transaction of $197,450,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,715,787 shares of company stock valued at $205,347,397. 1.00% of the stock is owned by company insiders.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share.
CBG has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a report on Wednesday, August 2nd. Barclays PLC raised their price target on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. UBS AG initiated coverage on shares of CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price target for the company. BidaskClub downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. CBRE Group presently has a consensus rating of “Hold” and a consensus price target of $39.60.
CBRE Group Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as 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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