Retirement Systems of Alabama raised its position in shares of CBRE Group Inc. (NYSE:CBG) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 551,076 shares of the company’s stock after buying an additional 2,298 shares during the period. Retirement Systems of Alabama owned about 0.16% of CBRE Group worth $15,419,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Trust Department MB Financial Bank N A boosted its stake in CBRE Group by 252.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,922 shares of the company’s stock worth $108,000 after buying an additional 2,094 shares during the period. Sarasin & Partners LLP boosted its stake in CBRE Group by 2.2% in the second quarter. Sarasin & Partners LLP now owns 117,266 shares of the company’s stock worth $3,105,000 after buying an additional 2,504 shares during the period. Capstone Asset Management Co. boosted its stake in CBRE Group by 6.2% in the second quarter. Capstone Asset Management Co. now owns 32,010 shares of the company’s stock worth $848,000 after buying an additional 1,880 shares during the period. FirstMerit Bank N A Trustee boosted its stake in CBRE Group by 2.7% in the second quarter. FirstMerit Bank N A Trustee now owns 22,595 shares of the company’s stock worth $598,000 after buying an additional 603 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in CBRE Group by 1.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 249,295 shares of the company’s stock worth $6,601,000 after buying an additional 3,932 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.
Shares of CBRE Group Inc. (NYSE:CBG) traded down 0.88% during mid-day trading on Monday, hitting $29.15. The company had a trading volume of 1,147,551 shares. The firm has a 50-day moving average price of $27.44 and a 200 day moving average price of $28.34. The firm has a market capitalization of $9.79 billion, a P/E ratio of 20.12 and a beta of 1.80. CBRE Group Inc. has a 12 month low of $22.74 and a 12 month high of $37.79.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. CBRE Group had a return on equity of 25.55% and a net margin of 3.77%. The company earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that CBRE Group Inc. will post $2.19 earnings per share for the current fiscal year.
A number of research firms have recently commented on CBG. Zacks Investment Research upgraded CBRE Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. Wedbush initiated coverage on CBRE Group in a research report on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 price objective for the company.
In other CBRE Group news, insider Valueact Capital Master Fund, purchased 3,836,006 shares of CBRE Group stock in a transaction dated Friday, November 4th. The stock was acquired at an average cost of $25.79 per share, with a total value of $98,930,594.74. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Calvin W. Frese, Jr. sold 39,475 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $29.90, for a total value of $1,180,302.50. Following the completion of the sale, the insider now directly owns 298,816 shares of the company’s stock, valued at $8,934,598.40. The disclosure for this sale can be found here. Company insiders own 1.10% 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 is 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.