United Capital Financial Advisers LLC bought a new stake in CBRE Group Inc (NYSE:CBRE) during the first quarter, HoldingsChannel reports. The firm bought 8,061 shares of the financial services provider’s stock, valued at approximately $381,000.
Other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $107,000. ClariVest Asset Management LLC acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $122,000. Quadrant Capital Group LLC acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $136,000. Signaturefd LLC acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $143,000. Finally, IFP Advisors Inc acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $145,000. Institutional investors and hedge funds own 93.00% of the company’s stock.
In other CBRE Group news, CFO James R. Groch sold 50,000 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $49.01, for a total value of $2,450,500.00. Following the completion of the transaction, the chief financial officer now owns 478,015 shares in the company, valued at approximately $23,427,515.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Curtis F. Feeny sold 7,447 shares of the company’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $46.27, for a total transaction of $344,572.69. Following the completion of the transaction, the director now owns 4,453 shares of the company’s stock, valued at approximately $206,040.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,222 shares of company stock valued at $3,821,556. 0.88% of the stock is owned by insiders.
CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. CBRE Group had a net margin of 4.48% and a return on equity of 24.15%. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. CBRE Group’s quarterly revenue was up 15.3% on a year-over-year basis. sell-side analysts predict that CBRE Group Inc will post 3.12 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on CBRE. Goldman Sachs Group began coverage on shares of CBRE Group in a research note on Tuesday, April 3rd. They issued a “buy” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of CBRE Group from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 6th. Barclays reiterated a “buy” rating and set a $58.00 price objective (up previously from $56.00) on shares of CBRE Group in a research note on Sunday, May 13th. Raymond James upgraded shares of CBRE Group from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, May 10th. Finally, ValuEngine lowered shares of CBRE Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CBRE Group currently has an average rating of “Buy” and an average price target of $49.25.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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