CBRE Group, Inc. (CBG) Insider Sells $3,231,900.00 in Stock
CBRE Group, Inc. (NYSE:CBG) insider Robert E. Sulentic sold 90,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $35.91, for a total value of $3,231,900.00. Following the transaction, the insider now owns 833,590 shares of the company’s stock, valued at $29,934,216.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CBRE Group, Inc. (NYSE:CBG) traded up 0.22% during mid-day trading on Tuesday, hitting $36.13. The stock had a trading volume of 2,301,643 shares. The stock has a market cap of $12.17 billion, a P/E ratio of 17.63 and a beta of 1.83. CBRE Group, Inc. has a 12-month low of $25.40 and a 12-month high of $38.99. The company’s 50 day moving average price is $37.10 and its 200 day moving average price is $35.21.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that CBRE Group, Inc. will post $2.58 EPS for the current fiscal year.
Several research firms have recently commented on CBG. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of CBRE Group in a research report on Friday, July 21st. Barclays PLC raised their price target on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday. BidaskClub lowered CBRE Group from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Finally, Wedbush restated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a research report on Monday, April 17th. 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 has a consensus rating of “Hold” and a consensus target price of $39.60.
Institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in CBRE Group during the first quarter worth $116,000. Harbour Capital Advisors LLC purchased a new position in CBRE Group during the first quarter worth $118,000. GQG Partners LLC purchased a new position in CBRE Group during the second quarter worth $122,000. BB&T Investment Services Inc. purchased a new position in CBRE Group during the second quarter worth $125,000. Finally, Advisor Group Inc. boosted its position in CBRE Group by 6.6% in the second quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock worth $198,000 after buying an additional 337 shares during the last quarter. 96.84% of the stock is owned by institutional investors.
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.
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