Allspring Global Investments Holdings LLC Buys 49,732 Shares of CBRE Group, Inc. (NYSE:CBRE)

Allspring Global Investments Holdings LLC grew its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,136,802 shares of the financial services provider's stock after purchasing an additional 49,732 shares during the quarter. CBRE Group makes up approximately 1.2% of Allspring Global Investments Holdings LLC's holdings, making the stock its 6th biggest holding. Allspring Global Investments Holdings LLC owned about 2.00% of CBRE Group worth $763,909,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Swedbank AB acquired a new stake in shares of CBRE Group in the first quarter valued at approximately $162,576,000. Eminence Capital LP grew its holdings 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 buying an additional 453,406 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in CBRE Group in the 2nd quarter valued at approximately $36,820,000. Delta Global Management LP raised its stake in CBRE Group by 266.2% during the 1st quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider's stock valued at $52,877,000 after acquiring an additional 395,297 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in CBRE Group by 1,730.4% during the 1st quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider's stock worth $38,550,000 after acquiring an additional 372,870 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CBRE. Raymond James upped their price target 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. Evercore ISI increased their price target on 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 CBRE Group to a "strong-buy" rating in a research report on Friday, August 16th. Morgan Stanley started coverage on CBRE Group in a report on Thursday, July 25th. They issued an "equal weight" rating and a $105.00 price objective for the company. Finally, UBS Group cut their price target on shares of CBRE Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $113.83.

CBRE Group Stock Performance

CBRE traded up $0.75 during trading on Friday, reaching $125.68. 1,509,719 shares of the company's stock were exchanged, compared to its average volume of 1,631,721. CBRE Group, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $125.98. The company has a market capitalization of $38.56 billion, a P/E ratio of 39.15 and a beta of 1.40. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $118.16 and a 200 day moving average price of $101.24.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter last year, the company earned $0.82 EPS. CBRE Group's revenue was up 8.7% on a year-over-year basis. As a group, analysts predict that CBRE Group, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In other news, 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 transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company's stock, valued at approximately $24,894,168.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares of the company's stock, valued at $24,894,168.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Vikramaditya Kohli sold 1,074 shares of the business's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares of the company's stock, valued at approximately $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. In the last quarter, insiders have sold 27,232 shares of company stock valued at $3,058,787. 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.