Insider Selling: CBRE Group Inc (NYSE:CBRE) CEO Sells 40,000 Shares of Stock
Posted by Lisa Durand on Nov 19th, 2019
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CBRE Group Inc (NYSE:CBRE) CEO Robert E. Sulentic sold 40,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $55.30, for a total transaction of $2,212,000.00. Following the sale, the chief executive officer now owns 749,011 shares in the company, valued at approximately $41,420,308.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NYSE CBRE traded down $0.18 on Tuesday, hitting $55.87. The stock had a trading volume of 2,403,900 shares, compared to its average volume of 1,521,319. CBRE Group Inc has a one year low of $37.45 and a one year high of $56.72. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market cap of $18.89 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 1.37 and a beta of 1.68. The company's 50-day moving average is $53.00 and its two-hundred day moving average is $51.62.
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CBRE Group (NYSE:CBRE) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. CBRE Group had a net margin of 4.50% and a return on equity of 23.24%. The firm had revenue of $5.93 billion during the quarter, compared to analysts' expectations of $5.73 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. CBRE Group's quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts anticipate that CBRE Group Inc will post 3.74 earnings per share for the current year.
Several equities research analysts recently weighed in on CBRE shares. JPMorgan Chase & Co. started coverage on shares of CBRE Group in a research note on Tuesday, October 29th. They set an "overweight" rating on the stock. UBS Group increased their price objective on shares of CBRE Group from $56.00 to $57.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. ValuEngine lowered shares of CBRE Group from a "hold" rating to a "sell" rating in a research note on Wednesday, October 2nd. Finally, Raymond James increased their price objective on shares of 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 research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. CBRE Group presently has an average rating of "Hold" and an average price target of $57.40.
A number of hedge funds and other institutional investors have recently bought and sold shares of CBRE. Ropes Wealth Advisors LLC bought a new position in CBRE Group in the 3rd quarter worth about $28,000. Hexavest Inc. bought a new position in CBRE Group in the 2nd quarter worth about $30,000. Johnson Financial Group Inc. bought a new position in shares of CBRE Group in the second quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CBRE Group in the second quarter valued at approximately $33,000. Finally, Prime Capital Investment Advisors LLC bought a new position in shares of CBRE Group in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.59% of the company's stock.
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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