JLB & Associates Inc. increased its stake in CBRE Group, Inc. (NYSE:CBRE) by 0.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 41,975 shares of the financial services provider’s stock after buying an additional 225 shares during the quarter. JLB & Associates Inc.’s holdings in CBRE Group were worth $1,971,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Smithfield Trust Co. grew its holdings in CBRE Group by 54.5% during the second quarter. Smithfield Trust Co. now owns 794 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 280 shares during the period. Sei Investments Co. increased its holdings in CBRE Group by 1.2% in the 2nd quarter. Sei Investments Co. now owns 29,281 shares of the financial services provider’s stock worth $1,316,000 after acquiring an additional 339 shares during the last quarter. OLD National Bancorp IN raised its stake in CBRE Group by 1.8% in the 2nd quarter. OLD National Bancorp IN now owns 19,169 shares of the financial services provider’s stock valued at $867,000 after acquiring an additional 348 shares during the period. Commonwealth Equity Services LLC lifted its holdings in CBRE Group by 5.0% during the second quarter. Commonwealth Equity Services LLC now owns 7,381 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 352 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in CBRE Group by 2.2% during the second quarter. Illinois Municipal Retirement Fund now owns 17,349 shares of the financial services provider’s stock worth $785,000 after purchasing an additional 371 shares during the period. Institutional investors own 94.41% of the company’s stock.
CBRE has been the topic of a number of recent research reports. Raymond James dropped their price target on shares of CBRE Group from $57.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. TheStreet raised shares of CBRE Group from a “c+” rating to a “b” rating in a report on Tuesday, September 22nd. Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a report on Tuesday, October 6th. Finally, UBS Group boosted their price objective on CBRE Group from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $50.00.
CBRE Group (NYSE:CBRE) last announced its earnings results on Friday, July 31st. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). CBRE Group had a return on equity of 17.96% and a net margin of 4.72%. The business had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. CBRE Group’s revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts expect that CBRE Group, Inc. will post 2.35 EPS for the current year.
In related news, EVP Laurence H. Midler sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $49.90, for a total value of $374,250.00. Following the completion of the transaction, the executive vice president now directly owns 109,485 shares in the company, valued at $5,463,301.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel G. Queenan sold 6,506 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $46.80, for a total value of $304,480.80. Following the completion of the transaction, the chief executive officer now directly owns 150,909 shares in the company, valued at approximately $7,062,541.20. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services for owners of and investors in office, industrial, and retail properties; 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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