Summit Global Investments Increases Stake in CBRE Group, Inc. (NYSE:CBRE)

Summit Global Investments grew its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 295.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,165 shares of the financial services provider's stock after buying an additional 15,818 shares during the quarter. Summit Global Investments' holdings in CBRE Group were worth $2,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. American National Bank & Trust acquired a new stake in CBRE Group in the third quarter worth $28,000. Benjamin F. Edwards & Company Inc. increased its position in shares of CBRE Group by 190.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider's stock worth $29,000 after acquiring an additional 215 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of CBRE Group in the first quarter valued at about $30,000. Wolff Wiese Magana LLC grew its holdings in shares of CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider's stock worth $36,000 after buying an additional 283 shares in the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of CBRE Group in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 98.41% of the company's stock.

CBRE Group Stock Performance

Shares of CBRE traded up $4.31 on Friday, reaching $136.36. 1,102,695 shares of the company's stock traded hands, compared to its average volume of 1,659,602. The stock has a market cap of $41.73 billion, a PE ratio of 42.46 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock's 50 day simple moving average is $122.61 and its two-hundred day simple moving average is $104.75. CBRE Group, Inc. has a 52-week low of $71.96 and a 52-week high of $137.09.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. On average, analysts forecast that CBRE Group, Inc. will post 5.02 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 3,311 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $360,534.79. Following the completion of the transaction, the chief financial officer now owns 71,969 shares of the company's stock, valued at approximately $7,836,704.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction dated 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 transaction, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 3,311 shares of the company's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $360,534.79. Following the sale, the chief financial officer now owns 71,969 shares of the company's stock, valued at $7,836,704.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,232 shares of company stock valued at $2,839,047 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CBRE. Raymond James boosted their price target on CBRE Group from $122.00 to $124.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. Wolfe Research raised shares of CBRE Group to a "strong-buy" rating in a research report on Friday, August 16th. Morgan Stanley initiated coverage on CBRE Group in a report on Thursday, July 25th. They set an "equal weight" rating and a $105.00 price target for the company. Finally, Evercore ISI upped their price objective 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $116.83.

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.