CIBC Asset Management Inc Boosts Holdings in CBRE Group, Inc. (NYSE:CBRE)

CIBC Asset Management Inc raised its holdings in CBRE Group, Inc. (NYSE:CBRE) by 22.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 49,810 shares of the financial services provider’s stock after acquiring an additional 9,051 shares during the period. CIBC Asset Management Inc’s holdings in CBRE Group were worth $6,200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CBRE. Swedbank AB acquired a new position in shares of CBRE Group in the 1st quarter valued at about $162,576,000. Robeco Institutional Asset Management B.V. raised its position in shares of CBRE Group by 60.2% in the 3rd 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 in the last quarter. Eminence Capital LP increased its holdings in shares of 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 valued at $135,287,000 after acquiring an additional 453,406 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of CBRE Group in the 2nd quarter valued at approximately $36,820,000. Finally, Delta Global Management LP increased its holdings in shares of CBRE Group by 266.2% in 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 during the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Trading Down 1.3 %

Shares of NYSE CBRE opened at $130.23 on Monday. CBRE Group, Inc. has a 12 month low of $76.63 and a 12 month high of $137.93. The company has a market cap of $39.85 billion, a price-to-earnings ratio of 41.87 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $125.26 and a 200-day simple moving average of $107.18.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. Sell-side analysts predict that CBRE Group, Inc. will post 4.94 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CBRE. Morgan Stanley started coverage on CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective for the company. Evercore ISI upped their price objective on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods upped their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Raymond James upped their price objective on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Five 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $116.83.

Insider Activity at CBRE Group

In related news, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The trade was a 17.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 217,094 shares in the company, valued at approximately $24,894,168.98. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

About CBRE Group

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.