William F. Concannon Sells 25,000 Shares of CBRE Group, Inc. (CBG) Stock
CBRE Group, Inc. (NYSE:CBG) CEO William F. Concannon sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $39.02, for a total value of $975,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of CBRE Group, Inc. (NYSE:CBG) traded up 0.23% during trading on Friday, hitting $38.84. The company had a trading volume of 1,379,184 shares. The firm’s 50 day moving average is $36.68 and its 200-day moving average is $35.78. The stock has a market capitalization of $13.09 billion, a P/E ratio of 18.96 and a beta of 1.82. CBRE Group, Inc. has a 52 week low of $25.40 and a 52 week high of $39.08.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 EPS 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 for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that CBRE Group, Inc. will post $2.57 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the business. GQG Partners LLC acquired a new position in CBRE Group during the 2nd quarter valued at about $122,000. Harbour Capital Advisors LLC acquired a new position in CBRE Group during the 1st quarter valued at about $118,000. BB&T Investment Services Inc. acquired a new position in CBRE Group during the 2nd quarter valued at about $125,000. Advisor Group Inc. lifted its position in CBRE Group by 6.6% during 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. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in CBRE Group during the 1st quarter valued at about $206,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. UBS AG assumed coverage on CBRE Group in a report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price objective on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a report on Friday, July 21st. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a report on Wednesday, August 2nd. Barclays PLC raised their price objective on CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.60.
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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