Pzena Investment Management LLC increased its position in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,119 shares of the financial services provider’s stock after acquiring an additional 5,338 shares during the quarter. Pzena Investment Management LLC owned about 0.11% of CBRE Group worth $39,969,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Howard Capital Management LLC increased its position in shares of CBRE Group by 41,140.5% during the third quarter. Howard Capital Management LLC now owns 736,556 shares of the financial services provider’s stock worth $94,625,000 after purchasing an additional 734,770 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CBRE Group in the 2nd quarter worth $98,121,000. Janus Henderson Group PLC boosted its position in shares of CBRE Group by 157.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,162,260 shares of the financial services provider’s stock worth $157,435,000 after purchasing an additional 711,399 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of CBRE Group by 52.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,930,992 shares of the financial services provider’s stock worth $248,075,000 after acquiring an additional 662,421 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of CBRE Group by 3.2% during the first quarter. Principal Financial Group Inc. now owns 9,870,413 shares of the financial services provider’s stock worth $1,337,051,000 after acquiring an additional 302,426 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CBRE Group in a research report on Friday, August 21st. Jefferies Financial Group dropped their target price on shares of CBRE Group from $180.00 to $164.00 in a research report on Monday, October 12th. UBS Group raised their price target on shares of CBRE Group from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Barclays lifted their price objective on shares of CBRE Group from $180.00 to $183.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CBRE Group from $190.00 to $186.00 in a report on Tuesday, October 13th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.78.
Read Our Latest Research Report on CBRE Group
CBRE Group Stock Up 4.2%
CBRE stock opened at $141.27 on Thursday. The firm’s fifty day moving average is $135.54 and its 200 day moving average is $141.51. The firm has a market cap of $40.71 billion, a PE ratio of 30.25 and a beta of 1.24. CBRE Group, Inc. has a one year low of $121.44 and a one year high of $174.27. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.17.
CBRE Group (NYSE:CBRE – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.09. The company had revenue of $11.52 billion during the quarter, compared to analysts’ expectations of $11.81 billion. CBRE Group had a return on equity of 26.31% and a net margin of 3.08%. CBRE Group’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. On average, research analysts forecast that CBRE Group, Inc. will post 7.76 EPS for the current year.
Insider Activity
In related news, insider Chad Doellinger sold 228 shares of CBRE Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $33,810.12. Following the sale, the insider directly owned 41,778 shares in the company, valued at approximately $6,195,259.62. The trade was a 0.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $333,652.50. Following the completion of the sale, the chief financial officer directly owned 108,479 shares in the company, valued at $16,086,350.91. This represents a 2.03% 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. 0.46% of the stock is owned by company insiders.
CBRE Group Profile
CBRE Group, Inc (NYSE:CBRE) is a global commercial real estate services and investment firm. The company provides advisory, transaction, property management, facilities management, project management, valuation, and consulting services to corporate, institutional, and other real estate clients.
Its businesses support the acquisition, development, leasing, operation, and disposition of commercial properties across sectors such as office, industrial and logistics, retail, multifamily, hospitality, and data centers.
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