Parallel Advisors LLC raised its stake in shares of CBRE Group Inc (NYSE:CBRE) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,642 shares of the financial services provider’s stock after buying an additional 2,408 shares during the period. Parallel Advisors LLC’s holdings in CBRE Group were worth $1,041,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexavest Inc. purchased a new stake in CBRE Group during the 2nd quarter valued at $30,000. Johnson Financial Group Inc. purchased a new stake in shares of CBRE Group in the 2nd quarter worth $30,000. Fulcrum Capital LLC purchased a new stake in shares of CBRE Group in the 3rd quarter worth $328,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CBRE Group in the 2nd quarter worth $33,000. Finally, AdvisorNet Financial Inc increased its stake in shares of CBRE Group by 461.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 730 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 94.04% of the company’s stock.
In related news, Director Brandon B. Boze sold 3,000,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $53.86, for a total value of $161,580,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert E. Sulentic sold 40,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the insider now directly owns 829,011 shares in the company, valued at $41,450,550. The disclosure for this sale can be found here. Insiders sold a total of 3,115,000 shares of company stock valued at $167,637,500 in the last ninety days. 0.74% of the stock is currently owned by insiders.
CBRE Group stock traded up $1.19 during mid-day trading on Thursday, hitting $54.27. The stock had a trading volume of 410,765 shares, compared to its average volume of 1,331,317. The firm has a market capitalization of $18.44 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.33 and a beta of 1.68. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $52.53 and its 200 day moving average is $51.39. CBRE Group Inc has a one year low of $37.45 and a one year high of $56.60.
CBRE Group (NYSE:CBRE) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.73 billion. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. CBRE Group’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. As a group, equities research analysts forecast that CBRE Group Inc will post 3.75 earnings per share for the current year.
Several equities research analysts have recently commented on the company. UBS Group upped their price objective on CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. assumed coverage on CBRE Group in a research note on Tuesday, October 29th. They issued an “overweight” rating for the company. Compass Point assumed coverage on CBRE Group in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $54.00 price objective for the company. ValuEngine lowered CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Raymond James upped their price objective on CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $57.40.
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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