MQS Management LLC Acquires 1,785 Shares of CBRE Group, Inc. (NYSE:CBRE)

MQS Management LLC raised its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 71.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,291 shares of the financial services provider’s stock after purchasing an additional 1,785 shares during the quarter. MQS Management LLC’s holdings in CBRE Group were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Harris Associates L P raised its position in shares of CBRE Group by 4.5% during the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after buying an additional 683,225 shares in the last quarter. Principal Financial Group Inc. raised its position in CBRE Group by 3.0% during the second quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock valued at $636,847,000 after purchasing an additional 210,004 shares during the period. Allspring Global Investments Holdings LLC raised its position in CBRE Group by 0.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock valued at $542,419,000 after purchasing an additional 53,142 shares during the period. Wellington Management Group LLP boosted its holdings in shares of CBRE Group by 164.1% in the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after purchasing an additional 2,799,097 shares during the period. Finally, Earnest Partners LLC boosted its holdings in shares of CBRE Group by 7.2% in the 1st quarter. Earnest Partners LLC now owns 3,582,398 shares of the financial services provider’s stock worth $348,352,000 after purchasing an additional 239,839 shares during the period. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Trading Up 1.8 %

NYSE CBRE opened at $122.49 on Friday. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $122.59. The company’s 50-day moving average price is $110.49 and its 200-day moving average price is $97.06. The stock has a market cap of $37.58 billion, a PE ratio of 38.16 and a beta of 1.40. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CBRE. Raymond James increased their price target on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Morgan Stanley initiated coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price on the stock. UBS Group dropped their price target on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Finally, Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.33.

Insider Buying and Selling

In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction on Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,606 shares of the company’s stock, valued at approximately $1,824,501.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Vikramaditya Kohli sold 1,074 shares of the 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 $116,947.86. Following the transaction, the chief operating officer now directly owns 69,226 shares in the company, valued at $7,538,019.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $109.87, for a total transaction of $219,740.00. Following the transaction, the chief accounting officer now directly owns 16,606 shares in the company, valued at $1,824,501.22. The disclosure for this sale can be found here. Insiders have sold a total of 27,232 shares of company stock valued at $3,058,787 over the last quarter. 0.54% of the stock is owned by corporate 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.