Retirement Systems of Alabama lessened its stake in CBRE Group Inc (NYSE:CBRE) by 0.0% in the first quarter, Holdings Channel reports. The fund owned 457,733 shares of the financial services provider’s stock after selling 211 shares during the period. Retirement Systems of Alabama’s holdings in CBRE Group were worth $22,635,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of CBRE Group in the 3rd quarter valued at about $2,289,833,000. Vanguard Group Inc bought a new stake in shares of CBRE Group in the 3rd quarter valued at about $2,289,833,000. JPMorgan Chase & Co. bought a new stake in shares of CBRE Group in the 3rd quarter valued at about $638,351,000. Harris Associates L P lifted its stake in shares of CBRE Group by 7.5% in the 4th quarter. Harris Associates L P now owns 14,433,299 shares of the financial services provider’s stock valued at $577,909,000 after acquiring an additional 1,005,359 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of CBRE Group by 3.5% in the 4th quarter. FMR LLC now owns 7,699,677 shares of the financial services provider’s stock valued at $308,296,000 after acquiring an additional 263,050 shares during the last quarter. 95.08% of the stock is owned by institutional investors.
In other news, CEO Michael J. Lafitte sold 32,706 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.54, for a total value of $1,652,961.24. Following the completion of the transaction, the chief executive officer now owns 372,946 shares of the company’s stock, valued at approximately $18,848,690.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James R. Groch sold 50,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $52.00, for a total value of $2,600,000.00. Following the completion of the transaction, the chief financial officer now directly owns 454,918 shares of the company’s stock, valued at approximately $23,655,736. The disclosure for this sale can be found here. Insiders have sold a total of 6,864,454 shares of company stock valued at $340,096,303 in the last ninety days. 0.88% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently weighed in on CBRE shares. Zacks Investment Research raised CBRE Group from a “sell” rating to a “hold” rating in a research note on Monday, January 14th. Bank of America lowered CBRE Group from a “buy” rating to a “neutral” rating in a research report on Thursday, January 3rd. William Blair reaffirmed an “outperform” rating on shares of CBRE Group in a research report on Wednesday, February 13th. Finally, JMP Securities reaffirmed a “hold” rating on shares of CBRE Group in a research report on Monday, March 11th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $56.33.
CBRE opened at $50.67 on Wednesday. The company has a market cap of $17.23 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.31 and a beta of 1.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.16 and a quick ratio of 1.16. CBRE Group Inc has a one year low of $37.45 and a one year high of $52.41.
CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Wednesday, February 13th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $6.29 billion during the quarter, compared to analyst estimates of $5.96 billion. CBRE Group had a return on equity of 23.93% and a net margin of 4.98%. CBRE Group’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 EPS. Equities research analysts forecast that CBRE Group Inc will post 3.57 EPS for the current fiscal year.
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.
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