Adelante Capital Management LLC Acquires New Position in CBRE Group, Inc. (NYSE:CBRE)

Adelante Capital Management LLC bought a new position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 34,841 shares of the financial services provider's stock, valued at approximately $4,337,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC boosted its stake in CBRE Group by 85.6% during the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider's stock valued at $944,435,000 after acquiring an additional 3,498,244 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of CBRE Group by 60.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider's stock valued at $329,320,000 after acquiring an additional 993,963 shares during the period. Eminence Capital LP grew its position in CBRE Group by 42.6% in the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider's stock worth $135,287,000 after purchasing an additional 453,406 shares during the last quarter. Maverick Capital Ltd. acquired a new position in CBRE Group during the 2nd quarter valued at about $36,820,000. Finally, Long Pond Capital LP bought a new position in CBRE Group during the second quarter valued at about $29,941,000. Institutional investors and hedge funds own 98.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CBRE shares. Citigroup lifted their price objective on CBRE Group from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Wolfe Research upgraded shares of CBRE Group to a "strong-buy" rating in a research note on Friday, August 16th. Finally, Evercore ISI increased their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.00.

CBRE Group Price Performance

CBRE traded down $0.72 during trading on Friday, hitting $139.99. 1,344,161 shares of the stock traded hands, compared to its average volume of 1,874,026. The business has a 50 day moving average price of $128.80 and a 200 day moving average price of $110.46. The company has a market cap of $42.84 billion, a price-to-earnings ratio of 45.01 and a beta of 1.39. CBRE Group, Inc. has a twelve month low of $78.18 and a twelve month high of $142.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm's revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities research analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares of the company's stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares of the company's stock, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

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.