Beverly Hills Private Wealth LLC Raises Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Beverly Hills Private Wealth LLC lifted its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 105.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,838 shares of the financial services provider’s stock after purchasing an additional 8,632 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in CBRE Group were worth $1,413,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich boosted its position in CBRE Group by 98,156.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 220,922,882 shares of the financial services provider’s stock valued at $17,830,686,000 after buying an additional 220,698,040 shares during the period. Geode Capital Management LLC grew its stake in CBRE Group by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 7,189,800 shares of the financial services provider’s stock worth $522,405,000 after purchasing an additional 148,971 shares in the last quarter. Principal Financial Group Inc. raised its position in CBRE Group by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 5,926,297 shares of the financial services provider’s stock valued at $478,311,000 after purchasing an additional 226,861 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of CBRE Group by 3.2% in the 1st quarter. Franklin Resources Inc. now owns 5,613,032 shares of the financial services provider’s stock valued at $408,685,000 after buying an additional 173,675 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of CBRE Group by 9.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,529,232 shares of the financial services provider’s stock worth $446,264,000 after buying an additional 454,779 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE stock opened at $77.94 on Wednesday. The stock’s 50-day moving average is $73.98 and its two-hundred day moving average is $78.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.19 and a current ratio of 1.19. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $89.58. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 41.68 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Friday, October 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.50 billion. CBRE Group had a return on equity of 13.88% and a net margin of 1.89%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. Analysts predict that CBRE Group, Inc. will post 3.7 earnings per share for the current year.

Insider Activity at CBRE Group

In other CBRE Group news, Director Brandon B. Boze sold 1,200,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $84.41, for a total transaction of $101,292,000.00. Following the transaction, the director now directly owns 4,637,748 shares of the company’s stock, valued at approximately $391,472,308.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CBRE. TheStreet downgraded shares of CBRE Group from a “b-” rating to a “c+” rating in a research note on Wednesday, October 18th. Raymond James cut their price target on CBRE Group from $100.00 to $95.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 4th. StockNews.com began coverage on CBRE Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Evercore ISI dropped their price objective on CBRE Group from $94.00 to $91.00 and set an “outperform” rating on the stock in a report on Monday, September 11th. Finally, Citigroup reissued a “buy” rating and set a $98.00 target price on shares of CBRE Group in a research report on Monday, September 18th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.33.

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.