Parnassus Investments LLC Has $251.56 Million Holdings in CBRE Group, Inc. (NYSE:CBRE)

Parnassus Investments LLC lifted its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 5.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,020,910 shares of the financial services provider's stock after purchasing an additional 98,652 shares during the period. Parnassus Investments LLC owned approximately 0.66% of CBRE Group worth $251,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cetera Investment Advisers raised its position in shares of CBRE Group by 500.1% during the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider's stock worth $2,718,000 after purchasing an additional 23,290 shares during the period. Natixis raised its position in CBRE Group by 69.0% during the first quarter. Natixis now owns 55,018 shares of the financial services provider's stock valued at $5,350,000 after buying an additional 22,464 shares during the period. Intech Investment Management LLC raised its position in CBRE Group by 232.4% during the first quarter. Intech Investment Management LLC now owns 13,961 shares of the financial services provider's stock valued at $1,358,000 after buying an additional 9,761 shares during the period. Bayesian Capital Management LP raised its position in CBRE Group by 138.8% during the first quarter. Bayesian Capital Management LP now owns 9,900 shares of the financial services provider's stock valued at $963,000 after buying an additional 5,754 shares during the period. Finally, Czech National Bank raised its position in CBRE Group by 9.8% during the second quarter. Czech National Bank now owns 57,473 shares of the financial services provider's stock valued at $5,121,000 after buying an additional 5,125 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Stock Down 0.4 %

Shares of CBRE traded down $0.50 during trading hours on Tuesday, hitting $132.17. 1,901,384 shares of the company were exchanged, compared to its average volume of 1,669,370. The company has a market cap of $40.45 billion, a PE ratio of 42.80 and a beta of 1.39. The firm's 50 day moving average is $125.61 and its 200-day moving average is $107.50. CBRE Group, Inc. has a 52 week low of $76.63 and a 52 week high of $137.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business had revenue of $9.04 billion during the quarter, compared to analysts' expectations of $8.80 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The firm's revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts forecast that CBRE Group, Inc. will post 4.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CBRE. Morgan Stanley started coverage on CBRE Group in a research report on Thursday, July 25th. They set an "equal weight" rating and a $105.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price on CBRE Group from $125.00 to $138.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. Raymond James boosted their target price on CBRE Group from $122.00 to $124.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 25th. Wolfe Research upgraded CBRE Group to a "strong-buy" rating in a research note on Friday, August 16th. Finally, Evercore ISI boosted their target price on CBRE Group from $123.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $116.83.

Insider Buying and Selling

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the transaction, the chief executive officer now owns 217,094 shares of the company's stock, valued at $24,894,168.98. This represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

CBRE Group Company Profile

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.