Kornitzer Capital Management Inc. KS reduced its holdings in shares of CBRE Group Inc (NYSE:CBRE) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,837 shares of the financial services provider’s stock after selling 3,090 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in CBRE Group were worth $4,762,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fulton Bank N.A. purchased a new position in shares of CBRE Group in the second quarter valued at $212,000. Swedbank boosted its stake in CBRE Group by 14.3% during the 2nd quarter. Swedbank now owns 1,480,816 shares of the financial services provider’s stock valued at $75,966,000 after acquiring an additional 185,264 shares during the last quarter. Carroll Financial Associates Inc. boosted its stake in CBRE Group by 115.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 798 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 428 shares during the last quarter. Hexavest Inc. bought a new position in CBRE Group during the 2nd quarter valued at $30,000. Finally, AMF Pensionsforsakring AB boosted its stake in CBRE Group by 8.1% during the 2nd quarter. AMF Pensionsforsakring AB now owns 427,092 shares of the financial services provider’s stock valued at $21,910,000 after acquiring an additional 31,909 shares during the last quarter. Institutional investors own 94.04% of the company’s stock.
In related news, Director Brandon B. Boze sold 3,000,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $53.86, for a total value of $161,580,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James R. Groch sold 75,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $54.10, for a total transaction of $4,057,500.00. Following the completion of the sale, the insider now directly owns 318,000 shares in the company, valued at approximately $17,203,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,115,000 shares of company stock worth $167,637,500. Corporate insiders own 0.74% of the company’s stock.
Shares of NYSE:CBRE traded up $0.39 on Friday, reaching $54.89. 1,177,216 shares of the company’s stock were exchanged, compared to its average volume of 1,520,855. The firm has a market capitalization of $18.68 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.35 and a beta of 1.68. CBRE Group Inc has a fifty-two week low of $37.45 and a fifty-two week high of $56.60. The business’s 50-day moving average is $52.56 and its two-hundred day moving average is $51.43. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.51.
CBRE Group (NYSE:CBRE) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The company had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. Analysts predict that CBRE Group Inc will post 3.75 earnings per share for the current fiscal year.
A number of analysts have weighed in on the stock. UBS Group increased their target price on shares of CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. ValuEngine cut shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Raymond James increased their target price on shares of CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of CBRE Group in a report on Tuesday, October 29th. They set an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target 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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