Three Peaks Capital Management LLC lifted its position in CBRE Group Inc (NYSE:CBRE) by 33.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,482 shares of the financial services provider’s stock after purchasing an additional 17,472 shares during the quarter. Three Peaks Capital Management LLC’s holdings in CBRE Group were worth $4,259,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Ropes Wealth Advisors LLC bought a new position in CBRE Group in the third quarter valued at about $28,000. Prime Capital Investment Advisors LLC bought a new position in shares of CBRE Group during the 3rd quarter worth approximately $36,000. Simon Quick Advisors LLC boosted its stake in shares of CBRE Group by 604.5% during the 4th quarter. Simon Quick Advisors LLC now owns 620 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 532 shares during the period. AdvisorNet Financial Inc lifted its holdings in CBRE Group by 461.5% during 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 during the last quarter. Finally, Rational Advisors LLC lifted its holdings in CBRE Group by 183.2% during the 3rd quarter. Rational Advisors LLC now owns 824 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.
In other news, CEO Michael J. Lafitte sold 26,759 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.02, for a total transaction of $1,499,039.18. Following the completion of the sale, the chief executive officer now owns 335,364 shares of the company’s stock, valued at approximately $18,787,091.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William F. Concannon sold 8,268 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $55.03, for a total transaction of $454,988.04. Following the completion of the transaction, the chief executive officer now directly owns 277,755 shares of the company’s stock, valued at approximately $15,284,857.65. The disclosure for this sale can be found here. Insiders sold 76,074 shares of company stock worth $4,223,623 over the last three months. 0.74% of the stock is owned by insiders.
A number of equities analysts have recently commented on the company. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Thursday, November 28th. Bank of America lowered CBRE Group from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. ValuEngine lowered CBRE Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. initiated coverage on CBRE Group in a research report on Tuesday, October 29th. They set an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. CBRE Group currently has an average rating of “Hold” and a consensus target price of $60.20.
Shares of CBRE Group stock traded up $0.29 on Friday, hitting $61.09. The company had a trading volume of 378,131 shares, compared to its average volume of 1,107,964. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 1.33 and a beta of 1.69. CBRE Group Inc has a 1 year low of $42.64 and a 1 year high of $61.90. The stock has a 50 day moving average of $59.58 and a 200-day moving average of $54.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.17.
CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. CBRE Group had a return on equity of 23.24% and a net margin of 4.50%. The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the company earned $0.79 earnings per share. CBRE Group’s revenue was up 12.6% compared to the same quarter last year. Equities analysts anticipate that CBRE Group Inc will post 3.74 earnings per share for the current year.
CBRE Group 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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