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.
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.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by BBNS and is owned by of BBNS. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://baseballnewssource.com/2018/11/10/bbt-corp-acquires-new-position-in-cbre-group-inc-cbre/2847349.html.
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
Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.