Cwm LLC raised its holdings in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 64.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,493 shares of the financial services provider’s stock after purchasing an additional 3,335 shares during the period. Cwm LLC’s holdings in CBRE Group were worth $618,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of CBRE. Norges Bank acquired a new stake in shares of CBRE Group in the fourth quarter worth $255,749,000. Harris Associates L P grew its holdings in CBRE Group by 11.2% during the 4th quarter. Harris Associates L P now owns 13,661,270 shares of the financial services provider’s stock valued at $1,051,371,000 after purchasing an additional 1,378,650 shares in the last quarter. Franklin Resources Inc. grew its holdings in CBRE Group by 28.3% during the 4th quarter. Franklin Resources Inc. now owns 5,439,357 shares of the financial services provider’s stock valued at $418,613,000 after purchasing an additional 1,198,800 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CBRE Group by 17.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,727,070 shares of the financial services provider’s stock valued at $440,755,000 after purchasing an additional 856,022 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in CBRE Group during the 4th quarter valued at $65,416,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.
Analyst Upgrades and Downgrades
CBRE has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of CBRE Group from $103.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 10th. StockNews.com began coverage on shares of CBRE Group in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup reduced their price objective on shares of CBRE Group from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, March 28th. Raymond James increased their price objective on shares of CBRE Group from $101.00 to $102.00 and gave the company a “strong-buy” rating in a research note on Monday. Finally, Evercore ISI reduced their price objective on shares of CBRE Group from $85.00 to $84.00 in a research note on Friday, June 23rd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.43.
CBRE Group Trading Down 0.5 %
CBRE Group (NYSE:CBRE – Get Free Report) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.11. The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.09 billion. CBRE Group had a net margin of 3.66% and a return on equity of 19.40%. CBRE Group’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.39 EPS. On average, equities analysts expect that CBRE Group, Inc. will post 4.77 earnings per share for the current year.
Insider Activity at CBRE Group
In related news, CEO Chandra Dhandapani sold 6,616 shares of CBRE Group stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $75.38, for a total value of $498,714.08. Following the sale, the chief executive officer now directly owns 136,878 shares in the company, valued at approximately $10,317,863.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, accounting, and financial services 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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