Principal Financial Group Inc. raised its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 3.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 7,424,671 shares of the financial services provider's stock after purchasing an additional 277,922 shares during the period. Principal Financial Group Inc. owned 2.43% of CBRE Group worth $924,223,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBRE. Swedbank AB acquired a new position in CBRE Group during the first quarter worth $162,576,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of CBRE Group by 60.2% in 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 purchasing an additional 993,963 shares during the period. Eminence Capital LP increased its position in CBRE Group by 42.6% during the second 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 stake in shares of CBRE Group during the 2nd quarter worth approximately $36,820,000. Finally, Delta Global Management LP raised its position in CBRE Group by 266.2% in the first quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider's stock valued at $52,877,000 after purchasing an additional 395,297 shares during the period. Institutional investors and hedge funds own 98.41% of the company's stock.
CBRE Group Price Performance
CBRE stock opened at $129.40 on Thursday. The business's 50-day moving average is $122.61 and its two-hundred day moving average is $104.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $39.60 billion, a P/E ratio of 41.61 and a beta of 1.39. CBRE Group, Inc. has a 1 year low of $71.96 and a 1 year high of $136.92.
CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm's quarterly revenue was up 14.8% on a year-over-year basis. Analysts anticipate that CBRE Group, Inc. will post 5.03 earnings per share for the current fiscal year.
Insider Buying and Selling
In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $116,947.86. Following the sale, the chief operating officer now directly owns 69,226 shares in the company, valued at $7,538,019.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Daniel G. Queenan sold 10,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Vikramaditya Kohli sold 1,074 shares of CBRE Group stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now owns 69,226 shares in the company, valued at $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,232 shares of company stock worth $2,839,047. Corporate insiders own 0.54% of the company's stock.
Wall Street Analysts Forecast Growth
CBRE has been the subject of several research analyst reports. Raymond James increased their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 25th. Morgan Stanley started coverage on CBRE Group in a research report on Thursday, July 25th. They issued an "equal weight" rating and a $105.00 target price on the stock. Wolfe Research upgraded CBRE Group to a "strong-buy" rating in a research report on Friday, August 16th. Evercore ISI increased their target price on CBRE Group from $123.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Finally, Keefe, Bruyette & Woods lifted their target price on CBRE Group from $125.00 to $138.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $116.83.
View Our Latest Stock Analysis on CBRE Group
About CBRE Group
(
Free Report)
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.
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