BB&T Corp Purchases New Position in CBRE Group Inc (NYSE:CBRE)

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BB&T Corp purchased a new stake in CBRE Group Inc (NYSE:CBRE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 186,101 shares of the financial services provider’s stock, valued at approximately $8,207,000. BB&T Corp owned approximately 0.05% of CBRE Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in CBRE. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in CBRE Group during the third quarter worth $133,879,000. Swedbank purchased a new stake in CBRE Group in the 2nd quarter worth about $106,645,000. Legal & General Group Plc purchased a new stake in CBRE Group in the 1st quarter worth about $70,357,000. RWC Asset Management LLP purchased a new stake in CBRE Group in the 3rd quarter worth about $34,922,000. Finally, Royal Bank of Canada purchased a new stake in CBRE Group in the 1st quarter worth about $29,837,000. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO William F. Concannon sold 28,878 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $47.47, for a total value of $1,370,838.66. Following the sale, the chief executive officer now directly owns 204,631 shares in the company, valued at $9,713,833.57. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.88% of the company’s stock.

Several research analysts have commented on the company. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Barclays boosted their target price on CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. ValuEngine downgraded CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Bank of America reduced their target price on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $52.56.

CBRE Group stock traded down $0.62 during mid-day trading on Friday, reaching $42.99. 1,840,522 shares of the stock traded hands, compared to its average volume of 2,278,489. The stock has a market cap of $14.81 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.76. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.06. CBRE Group Inc has a 12-month low of $38.05 and a 12-month high of $50.43.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, November 1st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.04. The firm had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.17 billion. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that CBRE Group Inc will post 3.2 EPS for the current fiscal year.

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CBRE Group 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.

Further Reading: Short Selling Stocks, A Beginner’s Guide

Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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