Price T Rowe Associates Inc. MD reduced its stake in shares of CBRE Group Inc (NYSE:CBRE) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 628,423 shares of the financial services provider’s stock after selling 2,071 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.19% of CBRE Group worth $32,238,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Hexavest Inc. bought a new stake in CBRE Group in the 2nd quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new stake in CBRE Group in the 2nd quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CBRE Group in the 2nd quarter valued at approximately $33,000. Enterprise Financial Services Corp lifted its stake in CBRE Group by 680.6% in the 2nd quarter. Enterprise Financial Services Corp now owns 765 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 667 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its stake in CBRE Group by 115.7% in the 2nd quarter. Carroll Financial Associates Inc. now owns 798 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 428 shares in the last quarter. Institutional investors own 93.82% of the company’s stock.
In related news, insider Robert E. Sulentic sold 40,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $50.00, for a total value of $2,000,000.00. Following the sale, the insider now owns 829,011 shares in the company, valued at approximately $41,450,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James R. Groch sold 50,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $55.13, for a total value of $2,756,500.00. Following the completion of the sale, the insider now owns 404,918 shares in the company, valued at approximately $22,323,129.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,165,000 shares of company stock worth $170,394,000. Company insiders own 0.74% of the company’s stock.
CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. CBRE Group had a return on equity of 24.14% and a net margin of 4.79%. The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that CBRE Group Inc will post 3.75 EPS for the current year.
Several research firms have commented on CBRE. UBS Group boosted their target price on CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Raymond James upped their price objective on CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. ValuEngine cut CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Compass Point assumed coverage on CBRE Group in a research note on Wednesday, July 10th. They set a “neutral” rating and a $54.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. CBRE Group presently has an average rating of “Hold” and an average price target of $57.40.
CBRE Group Company 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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