American International Group Inc. bought a new stake in shares of CBRE Group (NYSE:CBRE) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 128,237 shares of the financial services provider’s stock, valued at approximately $6,055,000.
Other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. acquired a new stake in shares of CBRE Group during the 1st quarter valued at about $333,000. Wells Fargo & Company MN bought a new position in CBRE Group during the 1st quarter valued at about $291,108,000. Prudential Financial Inc. bought a new position in CBRE Group during the 1st quarter valued at about $184,811,000. Shufro Rose & Co. LLC bought a new position in CBRE Group during the 1st quarter valued at about $3,312,000. Finally, Texas Yale Capital Corp. bought a new position in CBRE Group during the 1st quarter valued at about $1,228,000. Institutional investors and hedge funds own 92.96% of the company’s stock.
In other CBRE Group news, insider Brandon Boze sold 5,000,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $45.78, for a total value of $228,900,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederic V. Malek sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $47.68, for a total transaction of $2,384,000.00. Following the completion of the transaction, the director now directly owns 267,446 shares of the company’s stock, valued at $12,751,825.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,111,624 shares of company stock valued at $234,199,723. Insiders own 0.88% of the company’s stock.
CBRE Group (NYSE:CBRE) last announced its earnings results on Wednesday, May 2nd. The financial services provider reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. CBRE Group had a net margin of 4.48% and a return on equity of 24.15%. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. equities research analysts anticipate that CBRE Group will post 3.12 earnings per share for the current year.
CBRE has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on shares of CBRE Group in a report on Tuesday, April 3rd. They set a “buy” rating and a $54.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of CBRE Group from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, March 6th. Barclays lifted their price target on shares of CBRE Group from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, March 15th. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Friday, February 9th. Finally, ValuEngine raised shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. CBRE Group presently has a consensus rating of “Buy” and an average price target of $48.55.
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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