Acadian Asset Management LLC Buys New Position in CBRE Group, Inc. (NYSE:CBRE)

Acadian Asset Management LLC bought a new stake in CBRE Group, Inc. (NYSE:CBRE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,375 shares of the financial services provider’s stock, valued at approximately $656,000.

Other large investors have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of CBRE Group in the first quarter worth $30,000. EverSource Wealth Advisors LLC grew its position in CBRE Group by 44.8% in the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 165 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in CBRE Group in the 2nd quarter valued at $75,000. Spartan Planning & Wealth Management bought a new stake in CBRE Group during the 4th quarter worth about $78,000. Finally, Rothschild Investment LLC acquired a new position in shares of CBRE Group during the 2nd quarter worth about $80,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CBRE. Keefe, Bruyette & Woods lifted their target price on CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Morgan Stanley assumed coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target on the stock. UBS Group cut their price objective on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Raymond James boosted their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Finally, Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $100.00 to $123.00 in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.29.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $360,534.79. Following the completion of the sale, the chief financial officer now owns 71,969 shares of the company’s stock, valued at $7,836,704.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction that occurred 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 sale, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Emma E. Giamartino sold 3,311 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $360,534.79. Following the transaction, the chief financial officer now owns 71,969 shares in the company, valued at approximately $7,836,704.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,232 shares of company stock worth $3,058,787. Company insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

NYSE:CBRE opened at $118.17 on Wednesday. The company has a market cap of $36.26 billion, a P/E ratio of 36.81 and a beta of 1.40. The firm’s fifty day moving average price is $109.30 and its two-hundred day moving average price is $96.72. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $120.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. CBRE Group’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 EPS. Equities analysts expect that CBRE Group, Inc. will post 4.81 earnings per share for the current year.

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.