JPMorgan Chase & Co. Reduces Stake in CBRE Group Inc. (CBG)
JPMorgan Chase & Co. lowered its position in CBRE Group Inc. (NYSE:CBG) by 16.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,794,986 shares of the company’s stock after selling 1,314,558 shares during the period. JPMorgan Chase & Co.’s holdings in CBRE Group were worth $190,124,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of CBG. Trust Department MB Financial Bank N A increased its stake in shares of 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. Northwestern Mutual Wealth Management Co. increased its stake in CBRE Group by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,343 shares of the company’s stock worth $115,000 after buying an additional 391 shares during the last quarter. Assetmark Inc. increased its stake in CBRE Group by 56.1% in the second quarter. Assetmark Inc. now owns 4,515 shares of the company’s stock worth $120,000 after buying an additional 1,622 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in CBRE Group by 139.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,801 shares of the company’s stock worth $127,000 after buying an additional 2,800 shares during the last quarter. Finally, Partners Capital Investment Group LLC increased its stake in CBRE Group by 41.0% in the second quarter. Partners Capital Investment Group LLC now owns 4,978 shares of the company’s stock worth $132,000 after buying an additional 1,447 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.
CBRE Group Inc. (NYSE:CBG) opened at 29.04 on Thursday. The firm has a market capitalization of $9.75 billion, a PE ratio of 20.04 and a beta of 1.80. The firm’s 50-day moving average is $27.49 and its 200-day moving average is $28.33. CBRE Group Inc. has a 12 month low of $22.74 and a 12 month high of $37.79.
CBRE Group (NYSE:CBG) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. CBRE Group had a net margin of 3.77% and a return on equity of 25.55%. The company earned $3.20 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the company earned $0.51 EPS. CBRE Group’s revenue was up 17.7% on a year-over-year basis. On average, equities research analysts expect that CBRE Group Inc. will post $2.19 EPS for the current year.
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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of CBRE Group from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Wedbush assumed coverage on shares of CBRE Group in a report on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 target price for the company.
In other CBRE Group news, insider Calvin W. Frese, Jr. sold 39,475 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $29.90, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Lafitte sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $29.90, for a total transaction of $747,500.00. Following the sale, the insider now directly owns 338,053 shares of the company’s stock, valued at $10,107,784.70. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
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.
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