Montag A & Associates Inc. cut its stake in shares of CBRE Group Inc (NYSE:CBRE) by 9.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,289 shares of the financial services provider’s stock after selling 8,283 shares during the quarter. Montag A & Associates Inc.’s holdings in CBRE Group were worth $4,203,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexavest Inc. acquired a new position in shares of CBRE Group in the 2nd quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new position in shares of CBRE Group in the 2nd quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CBRE Group in the 2nd quarter valued at about $33,000. Enterprise Financial Services Corp lifted its stake in shares of 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 purchasing an additional 667 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in shares of CBRE Group by 461.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 730 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 600 shares during the period. 94.04% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Robert E. Sulentic sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the transaction, the insider now directly owns 829,011 shares of the company’s stock, valued at approximately $41,450,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James R. Groch sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $54.10, for a total value of $4,057,500.00. Following the transaction, the insider now directly owns 318,000 shares in the company, valued at $17,203,800. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,115,000 shares of company stock worth $167,637,500. 0.74% of the stock is owned by company insiders.
CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. CBRE Group had a return on equity of 24.14% and a net margin of 4.79%. The business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, analysts predict that CBRE Group Inc will post 3.75 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on CBRE shares. Raymond James boosted their price objective on CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. started coverage on CBRE Group in a research note on Tuesday, October 29th. They issued an “overweight” rating on the stock. ValuEngine downgraded CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, UBS Group boosted their price objective on CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have given 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 “Hold” and a consensus target price 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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