The Riverhead Capital Management LLC Boosts Stake in CBRE Group, Inc. (CBG)

The Riverhead Capital Management LLC Boosts Stake in CBRE Group, Inc. (CBG)

Riverhead Capital Management LLC boosted its stake in CBRE Group, Inc. (NYSE:CBG) by 52.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,789 shares of the company’s stock after buying an additional 5,427 shares during the period. Riverhead Capital Management LLC’s holdings in CBRE Group were worth $442,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CBG. BlackRock Institutional Trust Company N.A. boosted its stake in shares of CBRE Group by 3.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,717,050 shares of the company’s stock valued at $215,923,000 after buying an additional 240,166 shares during the last quarter. Trillium Asset Management LLC boosted its stake in shares of CBRE Group by 4.3% in the second quarter. Trillium Asset Management LLC now owns 517,363 shares of the company’s stock valued at $13,700,000 after buying an additional 21,257 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of CBRE Group by 3.7% in the second quarter. Retirement Systems of Alabama now owns 548,778 shares of the company’s stock valued at $14,532,000 after buying an additional 19,774 shares during the last quarter. Evercore Wealth Management LLC boosted its stake in shares of CBRE Group by 1.7% in the second quarter. Evercore Wealth Management LLC now owns 1,660,956 shares of the company’s stock valued at $43,982,000 after buying an additional 27,553 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in shares of CBRE Group by 0.6% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 250,756 shares of the company’s stock valued at $7,016,000 after buying an additional 1,461 shares during the last quarter. Hedge funds and other institutional investors own 94.24% of the company’s stock.

Shares of CBRE Group, Inc. (NYSE:CBG) traded down 0.33% during mid-day trading on Wednesday, hitting $30.51. The company had a trading volume of 1,331,275 shares. CBRE Group, Inc. has a 12 month low of $22.74 and a 12 month high of $33.21. The firm has a 50-day moving average price of $31.44 and a 200 day moving average price of $28.96. The firm has a market capitalization of $10.24 billion, a P/E ratio of 21.06 and a beta of 1.83.

CBRE Group (NYSE:CBG) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. CBRE Group had a return on equity of 25.55% and a net margin of 3.77%. The firm earned $3.20 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the business posted $0.51 EPS. CBRE Group’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that CBRE Group, Inc. will post $2.18 earnings per share for the current fiscal year.

CBG has been the subject of several research reports. Wedbush initiated coverage on CBRE Group in a research report on Wednesday, October 5th. They set an “outperform” rating and a $35.00 price target for the company. Zacks Investment Research upgraded CBRE Group from a “sell” rating to a “hold” rating in a research report on Monday, October 31st.

In other news, insider Valueact Capital Master Fund, acquired 3,836,006 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was purchased at an average cost of $25.79 per share, with a total value of $98,930,594.74. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO James R. Groch sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $30.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer now directly owns 510,483 shares of the company’s stock, valued at $15,314,490. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate 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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