WINTON GROUP Ltd bought a new position in shares of CBRE Group Inc (NYSE:CBRE) in the third quarter, HoldingsChannel.com reports. The firm bought 23,087 shares of the financial services provider’s stock, valued at approximately $1,018,000.
A number of other large investors have also modified their holdings of CBRE. Wells Fargo & Company MN bought a new position in CBRE Group during the third quarter worth about $301,769,000. Sterling Capital Management LLC bought a new position in CBRE Group during the third quarter worth about $142,352,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in CBRE Group during the third quarter worth about $133,879,000. Victory Capital Management Inc. bought a new position in CBRE Group during the third quarter worth about $48,127,000. Finally, Russell Investments Group Ltd. bought a new position in CBRE Group during the third quarter worth about $35,227,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.
A number of equities analysts have recently commented on CBRE shares. ValuEngine lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Barclays raised their price objective on shares of CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 30th. Finally, Bank of America cut their price objective on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $52.56.
CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. CBRE Group had a net margin of 4.32% and a return on equity of 23.45%. The company had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.17 billion. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts predict that CBRE Group Inc will post 3.2 EPS for the current year.
In related news, CEO William F. Concannon sold 28,878 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $47.47, for a total value of $1,370,838.66. Following the sale, the chief executive officer now directly owns 204,631 shares of the company’s stock, valued at $9,713,833.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.
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About CBRE Group
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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