First Trust Advisors LP purchased a new stake in shares of CBRE Group Inc (NYSE:CBRE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 344,765 shares of the financial services provider’s stock, valued at approximately $15,204,000. First Trust Advisors LP owned approximately 0.10% of CBRE Group as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CBRE. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of CBRE Group during the third quarter valued at approximately $103,000. Hanson & Doremus Investment Management bought a new position in CBRE Group in the third quarter worth approximately $155,000. IFP Advisors Inc bought a new position in CBRE Group in the third quarter worth approximately $176,000. Legacy Private Trust Co. bought a new position in CBRE Group in the second quarter worth approximately $229,000. Finally, NuWave Investment Management LLC bought a new position in CBRE Group in the third quarter worth approximately $314,000. 94.53% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:CBRE opened at $42.99 on Friday. The company has a market capitalization of $14.81 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.05 and a beta of 1.76. CBRE Group Inc has a 52 week low of $38.05 and a 52 week high of $50.43. The company has a quick ratio of 1.13, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.17 billion. CBRE Group had a net margin of 4.32% and a return on equity of 23.45%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts predict that CBRE Group Inc will post 3.2 EPS for the current fiscal year.
In other CBRE Group news, CEO William F. Concannon sold 28,878 shares of CBRE Group stock in a transaction on Monday, August 20th. The shares were sold at an average price of $47.47, for a total value of $1,370,838.66. Following the transaction, the chief executive officer now directly owns 204,631 shares of the company’s stock, valued at $9,713,833.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by insiders.
A number of equities analysts recently commented on the stock. ValuEngine downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Bank of America reduced their price objective on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Monday, August 6th. Finally, Barclays boosted their price objective on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 30th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $52.56.
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CBRE Group Company 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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