CBRE Group, Inc. $CBRE is Allspring Global Investments Holdings LLC’s 9th Largest Position

Allspring Global Investments Holdings LLC increased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,628,945 shares of the financial services provider’s stock after purchasing an additional 319,115 shares during the period. CBRE Group makes up 0.9% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 9th biggest position. Allspring Global Investments Holdings LLC owned approximately 1.22% of CBRE Group worth $513,931,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CBRE. Massachusetts Financial Services Co. MA raised its holdings in shares of CBRE Group by 217.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider’s stock worth $511,781,000 after purchasing an additional 2,680,337 shares during the last quarter. Nuveen LLC purchased a new position in shares of CBRE Group during the first quarter worth $214,283,000. JPMorgan Chase & Co. raised its holdings in shares of CBRE Group by 24.7% during the first quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider’s stock worth $487,127,000 after purchasing an additional 738,704 shares during the last quarter. Invesco Ltd. raised its holdings in shares of CBRE Group by 6.6% during the first quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider’s stock worth $837,938,000 after purchasing an additional 397,818 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of CBRE Group by 4.8% during the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider’s stock worth $1,042,317,000 after purchasing an additional 368,214 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CBRE shares. Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of CBRE Group from $143.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. UBS Group lifted their price objective on shares of CBRE Group from $146.00 to $165.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CBRE Group in a report on Wednesday, October 8th. Finally, Evercore ISI lifted their price objective on shares of CBRE Group from $164.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, August 25th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.78.

Insider Activity

In other news, CAO Lindsey S. Caplan sold 1,494 shares of CBRE Group stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total value of $232,122.78. Following the sale, the chief accounting officer owned 26,717 shares in the company, valued at $4,151,020.29. This trade represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total transaction of $315,200.00. Following the completion of the sale, the chief financial officer owned 103,371 shares in the company, valued at approximately $16,291,269.60. This trade represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,494 shares of company stock worth $857,593 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

CBRE Group Stock Down 1.3%

Shares of NYSE CBRE opened at $150.44 on Monday. The company’s 50-day simple moving average is $159.43 and its 200-day simple moving average is $140.82. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $167.56. The firm has a market cap of $44.76 billion, a price-to-earnings ratio of 42.14 and a beta of 1.36. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51.

CBRE Group (NYSE:CBRE) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. Equities analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; 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.