Nuveen Asset Management LLC increased its stake in CBRE Group, Inc. (NYSE:CBG) by 2.4% during the first quarter, Holdings Channel reports. The firm owned 192,952 shares of the financial services provider’s stock after buying an additional 4,553 shares during the period. Nuveen Asset Management LLC’s holdings in CBRE Group were worth $6,713,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of CBRE Group by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,547,180 shares of the financial services provider’s stock valued at $48,719,000 after buying an additional 7,067 shares during the period. AQR Capital Management LLC raised its position in shares of CBRE Group by 84.9% in the fourth quarter. AQR Capital Management LLC now owns 171,763 shares of the financial services provider’s stock valued at $5,409,000 after buying an additional 78,847 shares during the period. Norges Bank bought a new position in shares of CBRE Group during the fourth quarter valued at approximately $66,296,000. Elkhorn Investments LLC bought a new position in shares of CBRE Group during the fourth quarter valued at approximately $1,022,000. Finally, Pekin Singer Strauss Asset Management IL bought a new position in shares of CBRE Group during the fourth quarter valued at approximately $629,000. 96.28% of the stock is owned by hedge funds and other institutional investors.
CBRE Group, Inc. (NYSE:CBG) opened at 36.61 on Monday. The stock has a 50 day moving average of $34.98 and a 200 day moving average of $33.86. CBRE Group, Inc. has a 52 week low of $25.04 and a 52 week high of $37.47. The stock has a market capitalization of $12.33 billion, a P/E ratio of 20.02 and a beta of 1.83.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.10. CBRE Group had a net margin of 4.69% and a return on equity of 26.31%. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that CBRE Group, Inc. will post $2.42 earnings per share for the current fiscal year.
CBG has been the subject of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of CBRE Group in a research report on Thursday, March 16th. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a research report on Monday, April 17th. Finally, Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th.
In other news, CEO William F. Concannon sold 15,000 shares of CBRE Group stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $36.57, for a total value of $548,550.00. Following the transaction, the chief executive officer now owns 238,376 shares of the company’s stock, valued at $8,717,410.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
Want to see what other hedge funds are holding CBG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBG).
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2285170/nuveen-asset-management-llc-acquires-4553-shares-of-cbre-group-inc-cbg.html
Receive News & Ratings for CBRE Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.