CBRE Group, Inc. (NYSE:CBG) issued its earnings results on Thursday. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.12, Bloomberg Earnings reports. CBRE Group had a net margin of 4.69% and a return on equity of 26.31%. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the company posted $0.52 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. CBRE Group updated its FY17 guidance to $2.53-2.63 EPS.

Shares of CBRE Group (NYSE:CBG) traded down 1.70% during mid-day trading on Thursday, hitting $37.69. 2,780,412 shares of the stock traded hands. The firm’s 50 day moving average price is $36.41 and its 200 day moving average price is $34.58. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 20.61 and a beta of 1.83. CBRE Group has a 12-month low of $25.40 and a 12-month high of $38.99.

In other news, CEO William F. Concannon sold 20,000 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $38.09, for a total value of $761,800.00. Following the completion of the transaction, the chief executive officer now owns 233,896 shares in the company, valued at approximately $8,909,098.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Lafitte sold 15,000 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total transaction of $555,300.00. Following the completion of the transaction, the insider now owns 369,774 shares of the company’s stock, valued at approximately $13,689,033.48. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $1,865,650 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc increased its position in shares of CBRE Group by 0.4% in the second quarter. CIBC Asset Management Inc now owns 29,272 shares of the financial services provider’s stock worth $1,066,000 after buying an additional 113 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of CBRE Group by 2.9% in the second quarter. Great West Life Assurance Co. Can now owns 213,745 shares of the financial services provider’s stock worth $7,768,000 after buying an additional 5,965 shares in the last quarter. Harbour Capital Advisors LLC increased its position in shares of CBRE Group by 3,110.2% in the second quarter. Harbour Capital Advisors LLC now owns 108,763 shares of the financial services provider’s stock worth $2,988,000 after buying an additional 105,375 shares in the last quarter. NGAM Advisors L.P. increased its position in shares of CBRE Group by 5.8% in the second quarter. NGAM Advisors L.P. now owns 231,232 shares of the financial services provider’s stock worth $8,417,000 after buying an additional 12,751 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of CBRE Group by 112.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 20,310 shares of the financial services provider’s stock worth $739,000 after buying an additional 10,750 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Several brokerages recently issued reports on CBG. UBS AG assumed coverage on shares of CBRE Group in a report on Wednesday. They set a “neutral” rating and a $41.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 price objective on shares of CBRE Group in a report on Friday, July 21st. Barclays PLC lifted their price objective 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. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, July 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a report on Monday, April 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $39.40.

COPYRIGHT VIOLATION WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/27/cbre-group-inc-nysecbg-posts-quarterly-earnings-results-beats-estimates-by-0-12-eps.html.

CBRE Group Company 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.

Earnings History for CBRE Group (NYSE:CBG)

Receive News & Ratings for CBRE Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.