RiverPark Advisors LLC cut its holdings in CBRE Group Inc (NYSE:CBG) by 17.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,495 shares of the financial services provider’s stock after selling 18,456 shares during the period. RiverPark Advisors LLC’s holdings in CBRE Group were worth $3,703,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CBG. Invictus RG bought a new position in shares of CBRE Group in the third quarter valued at $104,000. Fieldpoint Private Securities LLC bought a new position in shares of CBRE Group in the third quarter valued at $104,000. Cerebellum GP LLC bought a new position in shares of CBRE Group in the fourth quarter valued at $127,000. Tower Research Capital LLC TRC grew its stake in shares of CBRE Group by 818.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,059 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,726 shares in the last quarter. Finally, Zions Bancorporation grew its stake in shares of CBRE Group by 5,136.8% in the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after buying an additional 3,493 shares in the last quarter. 94.31% of the stock is owned by institutional investors and hedge funds.
In other news, insider Brandon Boze sold 5,000,000 shares of CBRE Group stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $45.78, for a total transaction of $228,900,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Calvin W. Frese, Jr. sold 6,033 shares of CBRE Group stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $47.00, for a total value of $283,551.00. Following the sale, the insider now directly owns 272,755 shares of the company’s stock, valued at approximately $12,819,485. The disclosure for this sale can be found here. Insiders have sold 5,175,707 shares of company stock valued at $236,657,635 in the last three months. Insiders own 1.00% of the company’s stock.
CBRE Group (NYSE:CBG) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.06. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the previous year, the business posted $0.93 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. equities analysts predict that CBRE Group Inc will post 3.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%.
CBG has been the subject of several analyst reports. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Friday, February 9th. Barclays reissued a “buy” rating and issued a $47.00 target price on shares of CBRE Group in a research note on Wednesday, December 27th. ValuEngine raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Evercore ISI initiated coverage on shares of CBRE Group in a research note on Monday, January 22nd. They issued an “in-line” rating and a $48.00 target price for the company. Finally, JMP Securities cut shares of CBRE Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.28.
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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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