Russell Investments Group Ltd. raised its position in CBRE Group Inc (NYSE:CBRE) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 542,347 shares of the financial services provider’s stock after acquiring an additional 25,787 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of CBRE Group worth $28,740,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Freestone Capital Holdings LLC acquired a new stake in shares of CBRE Group during the 2nd quarter worth about $931,000. GAM Holding AG lifted its stake in shares of CBRE Group by 31.4% during the 2nd quarter. GAM Holding AG now owns 17,849 shares of the financial services provider’s stock worth $916,000 after buying an additional 4,267 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CBRE Group by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,442,924 shares of the financial services provider’s stock worth $125,321,000 after buying an additional 110,348 shares during the last quarter. Partners Capital Investment Group LLP lifted its stake in shares of CBRE Group by 9.1% during the 2nd quarter. Partners Capital Investment Group LLP now owns 151,633 shares of the financial services provider’s stock worth $7,779,000 after buying an additional 12,634 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of CBRE Group by 44.6% during the 2nd quarter. KBC Group NV now owns 296,926 shares of the financial services provider’s stock worth $15,233,000 after buying an additional 91,635 shares during the last quarter. Hedge funds and other institutional investors own 94.04% of the company’s stock.
Shares of CBRE Group stock opened at $54.50 on Friday. CBRE Group Inc has a twelve month low of $37.45 and a twelve month high of $56.60. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $52.54 and a two-hundred day simple moving average of $51.41. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.35 and a beta of 1.68.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the previous year, the company earned $0.79 EPS. The business’s revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts anticipate that CBRE Group Inc will post 3.75 earnings per share for the current fiscal year.
In other CBRE Group news, insider Robert E. Sulentic sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $50.00, for a total value of $2,000,000.00. Following the transaction, the insider now directly owns 829,011 shares of the company’s stock, valued at approximately $41,450,550. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brandon B. Boze sold 3,000,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $53.86, for a total transaction of $161,580,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,115,000 shares of company stock valued at $167,637,500 in the last quarter. Corporate insiders own 0.74% of the company’s stock.
CBRE has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of CBRE Group in a research note on Tuesday, October 29th. They set an “overweight” rating for the company. Raymond James raised their target price on shares of CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. ValuEngine cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, UBS Group raised their target price on shares of CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. CBRE Group has an average rating of “Hold” and an average target price of $57.40.
About CBRE Group
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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