CBRE Group Inc (NYSE:CBG) Shares Sold by ValueAct Holdings L.P.

ValueAct Holdings L.P. cut its position in CBRE Group Inc (NYSE:CBG) by 16.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,878,480 shares of the financial services provider’s stock after selling 5,500,000 shares during the quarter. CBRE Group accounts for 11.0% of ValueAct Holdings L.P.’s portfolio, making the stock its 4th largest position. ValueAct Holdings L.P. owned 8.51% of CBRE Group worth $1,093,917,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Zions Bancorporation boosted its stake in shares of CBRE Group by 5,136.8% in the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 3,493 shares during the period. Caxton Associates LP bought a new position in CBRE Group during the 3rd quarter valued at $439,000. Chevy Chase Trust Holdings Inc. boosted its stake in CBRE Group by 1.1% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 263,392 shares of the financial services provider’s stock valued at $9,977,000 after acquiring an additional 2,987 shares during the last quarter. Magnetar Financial LLC bought a new position in CBRE Group during the 3rd quarter valued at $216,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in CBRE Group by 70.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock valued at $11,884,000 after acquiring an additional 130,144 shares during the last quarter. Institutional investors and hedge funds own 94.58% of the company’s stock.

CBRE Group Inc (NYSE CBG) traded up $0.51 during midday trading on Tuesday, reaching $43.82. 1,870,375 shares of the company’s stock were exchanged, compared to its average volume of 1,811,600. CBRE Group Inc has a 12-month low of $29.69 and a 12-month high of $44.33. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. The company has a market cap of $14,880.00, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.86.

CBRE Group (NYSE:CBG) last issued its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.10. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.45 billion. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. research analysts predict that CBRE Group Inc will post 2.67 EPS for the current fiscal year.

In other CBRE Group news, insider Valueact Capital Master Fund, sold 882,206 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $42.84, for a total transaction of $37,793,705.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William F. Concannon sold 25,000 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $39.02, for a total transaction of $975,500.00. The disclosure for this sale can be found here. Insiders have sold 3,049,872 shares of company stock worth $130,055,941 over the last three months. 1.00% of the stock is owned by corporate insiders.

A number of research firms have commented on CBG. Barclays reiterated a “buy” rating and set a $47.00 price objective on shares of CBRE Group in a research note on Wednesday, December 27th. Bank of America increased their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $41.00.

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CBRE Group Profile

CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as 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.

Institutional Ownership by Quarter for CBRE Group (NYSE:CBG)

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