National Pension Service boosted its position in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 607,893 shares of the financial services provider’s stock after buying an additional 33,882 shares during the period. National Pension Service’s holdings in CBRE Group were worth $81,877,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CBRE. Swiss RE Ltd. purchased a new position in CBRE Group during the 4th quarter worth $25,000. Navalign LLC acquired a new stake in shares of CBRE Group in the 4th quarter worth $29,000. Ascentis Independent Advisors purchased a new stake in shares of CBRE Group in the first quarter valued at about $30,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of CBRE Group in the first quarter valued at about $33,000. Finally, Sound Income Strategies LLC increased its stake in shares of CBRE Group by 5,180.0% during the first quarter. Sound Income Strategies LLC now owns 264 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 259 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.
CBRE Group Stock Up 2.0%
CBRE stock opened at $140.73 on Friday. The company has a market cap of $40.75 billion, a P/E ratio of 32.28 and a beta of 1.19. CBRE Group, Inc. has a 52 week low of $121.69 and a 52 week high of $174.27. The company’s 50-day moving average price is $145.20 and its 200 day moving average price is $140.28. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66.
Insider Transactions at CBRE Group
In other news, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total transaction of $333,652.50. Following the completion of the transaction, the chief financial officer owned 108,479 shares of the company’s stock, valued at $16,086,350.91. The trade was a 2.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vikramaditya Kohli sold 2,666 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $150.00, for a total transaction of $399,900.00. Following the completion of the sale, the chief executive officer owned 134,869 shares in the company, valued at $20,230,350. This represents a 1.94% 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. Insiders sold 5,144 shares of company stock valued at $767,363 in the last 90 days. 0.46% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of CBRE Group in a report on Friday, August 21st. Evercore reiterated an “outperform” rating and set a $175.00 target price on shares of CBRE Group in a research report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating on shares of CBRE Group in a research note on Friday, May 15th. Barclays raised their price target on CBRE Group from $180.00 to $183.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Finally, Wall Street Zen downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $180.33.
Read Our Latest Stock Report on CBRE Group
CBRE Group Profile
CBRE Group, Inc is a global commercial real estate services and investment company headquartered in Dallas, Texas. Through its businesses, CBRE provides services to occupiers, owners, investors and developers of office, industrial, retail, multifamily, hotel and other property types.
The company’s principal activities include property leasing and sales, tenant and landlord representation, property management, facilities management, valuation and advisory services, capital markets, mortgage servicing, project management and real estate development.
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