National Bank of Canada FI Grows Stake in CBRE Group, Inc. (NYSE:CBRE)

National Bank of Canada FI boosted its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 70.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,978 shares of the financial services provider's stock after purchasing an additional 58,075 shares during the quarter. National Bank of Canada FI's holdings in CBRE Group were worth $17,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CBRE. Algert Global LLC purchased a new stake in shares of CBRE Group in the 3rd quarter worth approximately $1,829,000. Cornerstone Advisors LLC grew its stake in shares of CBRE Group by 29.9% in the third quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider's stock worth $2,054,000 after acquiring an additional 3,800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CBRE Group by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,876,724 shares of the financial services provider's stock valued at $233,615,000 after acquiring an additional 16,202 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of CBRE Group by 6.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 323,311 shares of the financial services provider's stock worth $28,810,000 after purchasing an additional 20,717 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in CBRE Group by 110.7% in the 2nd quarter. Federated Hermes Inc. now owns 8,879 shares of the financial services provider's stock worth $791,000 after purchasing an additional 4,665 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

Analyst Ratings Changes

CBRE has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Wolfe Research upgraded shares of CBRE Group to a "strong-buy" rating in a report on Friday, August 16th. The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Friday. They set a "buy" rating and a $176.00 target price on the stock. Citigroup boosted their price target on CBRE Group from $130.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, Keefe, Bruyette & Woods increased their price objective 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 investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $129.63.

CBRE Group Stock Performance

NYSE:CBRE traded down $1.47 during mid-day trading on Tuesday, hitting $135.82. 1,548,150 shares of the company traded hands, compared to its average volume of 1,684,199. The stock's fifty day moving average price is $130.52 and its 200-day moving average price is $112.59. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a one year low of $81.62 and a one year high of $142.00. The firm has a market cap of $41.56 billion, a price-to-earnings ratio of 43.69 and a beta of 1.39.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $8.80 billion. During the same period in the prior year, the firm posted $0.72 EPS. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts anticipate that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Emma E. Giamartino sold 1,815 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by insiders.

CBRE Group 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.