Harbor Advisors LLC Acquires Shares of 6,000 CBRE Group, Inc. (CBG)

Harbor Advisors LLC bought a new stake in shares of CBRE Group, Inc. (NYSE:CBG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the financial services provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of CBRE Group by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,208 shares of the financial services provider’s stock valued at $542,000 after buying an additional 148 shares during the period. Dimensional Fund Advisors LP increased its position in shares of CBRE Group by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,547,180 shares of the financial services provider’s stock valued at $48,719,000 after buying an additional 7,067 shares during the period. Tredje AP fonden increased its position in shares of CBRE Group by 55.3% in the fourth quarter. Tredje AP fonden now owns 7,456 shares of the financial services provider’s stock valued at $235,000 after buying an additional 2,656 shares during the period. TCW Group Inc. increased its position in shares of CBRE Group by 0.5% in the fourth quarter. TCW Group Inc. now owns 22,150 shares of the financial services provider’s stock valued at $698,000 after buying an additional 100 shares during the period. Finally, Aviva PLC increased its position in shares of CBRE Group by 6.3% in the fourth quarter. Aviva PLC now owns 185,433 shares of the financial services provider’s stock valued at $5,841,000 after buying an additional 10,999 shares during the period. Institutional investors own 96.11% of the company’s stock.

Shares of CBRE Group, Inc. (NYSE:CBG) opened at 37.14 on Wednesday. The company has a 50 day moving average price of $35.87 and a 200-day moving average price of $34.33. The stock has a market capitalization of $12.51 billion, a P/E ratio of 20.31 and a beta of 1.83. CBRE Group, Inc. has a 1-year low of $25.40 and a 1-year high of $37.47.

CBRE Group (NYSE:CBG) last posted its earnings results on Thursday, April 27th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. CBRE Group had a return on equity of 26.31% and a net margin of 4.69%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the firm earned $0.36 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that CBRE Group, Inc. will post $2.42 EPS for the current fiscal year.

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Several research analysts have weighed in on CBG shares. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a research note on Monday, April 17th. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $36.00 price target on shares of CBRE Group in a research note on Tuesday, May 30th. Finally, Barclays PLC lifted their price target on CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday.

In other CBRE Group news, insider Michael J. Lafitte sold 15,000 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $37.02, for a total transaction of $555,300.00. Following the completion of the transaction, the insider now directly owns 369,774 shares of the company’s stock, valued at approximately $13,689,033.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

CBRE Group Company Profile

CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.

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

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