Logan Capital Management Inc. cut its stake in shares of CBRE Group Inc (NYSE:CBG) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,982 shares of the financial services provider’s stock after selling 21,827 shares during the quarter. Logan Capital Management Inc. owned about 0.06% of CBRE Group worth $8,835,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Invictus RG purchased a new stake in shares of CBRE Group during the third quarter valued at $104,000. Fieldpoint Private Securities LLC purchased a new stake in shares of CBRE Group during the third quarter valued at $104,000. Cerebellum GP LLC purchased a new stake in shares of CBRE Group during the fourth quarter valued at $127,000. Tower Research Capital LLC TRC grew its holdings in shares of CBRE Group by 818.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,059 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,726 shares during the last quarter. Finally, Zions Bancorporation grew its holdings in shares of CBRE Group by 5,136.8% during the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after buying an additional 3,493 shares during the last quarter. 95.34% of the stock is currently owned by hedge funds and other institutional investors.
CBG has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Monday, November 6th. Barclays reissued a “buy” rating and set a $47.00 price objective on shares of CBRE Group in a report on Wednesday, December 27th. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Evercore ISI assumed coverage on shares of CBRE Group in a report on Monday, January 22nd. They set an “in-line” rating and a $48.00 price objective on the stock. Finally, JMP Securities downgraded shares of CBRE Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. CBRE Group currently has a consensus rating of “Buy” and an average target price of $46.56.
In other CBRE Group news, CFO James R. Groch sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $45.03, for a total value of $2,251,500.00. Following the completion of the transaction, the chief financial officer now owns 442,444 shares in the company, valued at $19,923,253.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Lafitte sold 25,888 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $44.86, for a total transaction of $1,161,335.68. Following the completion of the transaction, the insider now owns 284,834 shares of the company’s stock, valued at approximately $12,777,653.24. The disclosure for this sale can be found here. Insiders have sold 1,708,788 shares of company stock valued at $73,051,818 over the last 90 days. 1.00% of the stock is currently owned by insiders.
CBRE Group Inc (NYSE CBG) opened at $44.48 on Thursday. The stock has a market cap of $15,241.71, a price-to-earnings ratio of 21.91, a P/E/G ratio of 1.12 and a beta of 1.83. CBRE Group Inc has a 1 year low of $32.30 and a 1 year high of $46.60. The company has a current ratio of 1.08, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49.
CBRE Group (NYSE:CBG) last posted its earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 earnings per share. equities analysts anticipate that CBRE Group Inc will post 3.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%.
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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