California State Teachers Retirement System raised its stake in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) by 12,333.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 58,670,964 shares of the financial services provider’s stock after buying an additional 58,199,080 shares during the period. California State Teachers Retirement System owned about 0.20% of CBRE Group worth $7,902,392,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swiss RE Ltd. bought a new position in shares of CBRE Group in the fourth quarter valued at approximately $25,000. Navalign LLC bought a new stake in CBRE Group during the fourth quarter worth approximately $29,000. Ascentis Independent Advisors acquired a new stake in CBRE Group in the first quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC bought a new position in CBRE Group during the 1st quarter valued at $33,000. Finally, MV Capital Management Inc. bought a new position in CBRE Group during the 4th quarter valued at $42,000. 98.41% of the stock is currently owned by institutional investors.
CBRE Group Stock Performance
Shares of CBRE stock opened at $142.26 on Wednesday. The company has a market capitalization of $41.20 billion, a price-to-earnings ratio of 32.63 and a beta of 1.19. CBRE Group, Inc. has a 1-year low of $121.69 and a 1-year high of $174.27. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $145.25 and its 200-day simple moving average is $140.41.
Insider Activity at CBRE Group
In other CBRE Group news, CEO Vikramaditya Kohli sold 2,666 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $150.00, for a total value of $399,900.00. Following the completion of the sale, the chief executive officer directly owned 134,869 shares of the company’s stock, valued at $20,230,350. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chad Doellinger sold 228 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total transaction of $33,810.12. Following the completion of the sale, the insider owned 41,778 shares of the company’s stock, valued at $6,195,259.62. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 5,144 shares of company stock valued at $767,363. 0.46% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts recently weighed in on CBRE shares. Barclays raised their target price on CBRE Group from $180.00 to $183.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Jefferies Financial Group reiterated a “buy” rating on shares of CBRE Group in a report on Friday, May 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of CBRE Group in a research note on Friday, August 21st. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $158.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Evercore restated an “outperform” rating and issued a $175.00 price target on shares of CBRE Group in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.33.
CBRE Group Company Profile
CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.
In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.
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