CBRE Group (NYSE:CBRE) Stock Price Down 5.1% Following Insider Selling

CBRE Group Inc (NYSE:CBRE)’s share price traded down 5.1% on Monday after an insider sold shares in the company. The company traded as low as $50.19 and last traded at $50.79, 1,573,804 shares changed hands during trading. An increase of 3% from the average session volume of 1,521,395 shares. The stock had previously closed at $53.51.

Specifically, CEO Robert E. Sulentic sold 40,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 841,601 shares of the company’s stock, valued at $42,080,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James R. Groch sold 50,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $55.13, for a total value of $2,756,500.00. Following the completion of the transaction, the insider now directly owns 404,918 shares of the company’s stock, valued at $22,323,129.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,766 shares of company stock worth $5,218,495. 0.74% of the stock is owned by company insiders.

CBRE has been the topic of several analyst reports. Compass Point initiated coverage on CBRE Group in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $54.00 target price on the stock. Raymond James increased their price target on CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. CBRE Group has a consensus rating of “Buy” and an average price target of $58.00.

The firm has a market capitalization of $17.99 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.31 and a beta of 1.70. The firm has a 50-day simple moving average of $51.98. The company has a current ratio of 1.09, a quick ratio of 1.16 and a debt-to-equity ratio of 0.59.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.03. CBRE Group had a return on equity of 24.14% and a net margin of 4.79%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same period last year, the company earned $0.74 earnings per share. CBRE Group’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts predict that CBRE Group Inc will post 3.75 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CBRE. CIBC Asset Management Inc increased its stake in shares of CBRE Group by 0.7% in the second quarter. CIBC Asset Management Inc now owns 28,854 shares of the financial services provider’s stock worth $1,480,000 after purchasing an additional 206 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of CBRE Group by 0.5% in the second quarter. Tocqueville Asset Management L.P. now owns 49,775 shares of the financial services provider’s stock worth $2,553,000 after purchasing an additional 245 shares during the period. Securian Asset Management Inc increased its stake in shares of CBRE Group by 0.8% in the second quarter. Securian Asset Management Inc now owns 32,117 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 253 shares during the period. Cetera Advisors LLC increased its stake in shares of CBRE Group by 2.3% in the first quarter. Cetera Advisors LLC now owns 11,557 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 257 shares during the period. Finally, Keybank National Association OH increased its stake in shares of CBRE Group by 2.3% in the second quarter. Keybank National Association OH now owns 11,544 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 258 shares during the period. Institutional investors own 93.23% of the company’s stock.

CBRE Group Company Profile (NYSE:CBRE)

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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