Oppenheimer & Co. Inc. reduced its position in shares of CBRE Group, Inc. (NYSE:CBG) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,003 shares of the financial services provider’s stock after selling 360 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in CBRE Group were worth $1,529,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Delta Lloyd Asset Management N.V. bought a new stake in shares of CBRE Group during the 2nd quarter valued at about $2,248,000. Swiss National Bank lifted its position in shares of CBRE Group by 2.8% during the 2nd quarter. Swiss National Bank now owns 1,105,871 shares of the financial services provider’s stock valued at $40,254,000 after buying an additional 30,300 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of CBRE Group by 12.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 9,114 shares of the financial services provider’s stock valued at $332,000 after buying an additional 992 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of CBRE Group by 5.8% during the 2nd quarter. Principal Financial Group Inc. now owns 10,568,915 shares of the financial services provider’s stock valued at $384,708,000 after buying an additional 575,408 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of CBRE Group by 13.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,691 shares of the financial services provider’s stock valued at $244,000 after buying an additional 779 shares in the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.
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A number of research analysts have recently weighed in on the company. UBS AG assumed coverage on CBRE Group in a research report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a research report on Friday, July 21st. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a research report on Wednesday, August 2nd. Barclays PLC boosted their price target on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.60.
Shares of CBRE Group, Inc. (NYSE:CBG) opened at 37.18 on Friday. CBRE Group, Inc. has a one year low of $25.40 and a one year high of $38.99. The stock has a market capitalization of $12.53 billion, a PE ratio of 18.15 and a beta of 1.83. The stock’s 50 day moving average price is $36.30 and its 200 day moving average price is $35.62.
CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. Equities research analysts predict that CBRE Group, Inc. will post $2.57 EPS for the current fiscal year.
In other news, EVP Laurence H. Midler sold 3,139 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $36.00, for a total transaction of $113,004.00. Following the completion of the sale, the executive vice president now directly owns 90,541 shares in the company, valued at $3,259,476. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laurence H. Midler sold 14,614 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $35.42, for a total value of $517,627.88. Following the sale, the executive vice president now owns 111,720 shares of the company’s stock, valued at $3,957,122.40. The disclosure for this sale can be found here. Insiders sold a total of 5,720,787 shares of company stock worth $205,475,747 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.
About CBRE Group
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.
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