Coronation Fund Managers Ltd. Has $7.11 Million Stake in CBRE Group, Inc. (NYSE:CBRE)

Coronation Fund Managers Ltd. lifted its holdings in CBRE Group, Inc. (NYSE:CBRE) by 13.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,834 shares of the financial services provider’s stock after acquiring an additional 9,303 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in CBRE Group were worth $7,114,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Harris Associates L P boosted its stake in CBRE Group by 4.5% in the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after purchasing an additional 683,225 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CBRE Group by 3.0% in 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 buying an additional 210,004 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in CBRE Group by 0.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock worth $542,419,000 after buying an additional 53,142 shares in the last quarter. Wellington Management Group LLP grew its holdings in CBRE Group by 164.1% during 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 acquiring an additional 2,799,097 shares during the last quarter. Finally, Earnest Partners LLC increased its position in CBRE Group by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 3,636,908 shares of the financial services provider’s stock valued at $324,085,000 after acquiring an additional 54,510 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Stock Down 0.6 %

NYSE:CBRE opened at $123.71 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month high of $124.97. The stock’s fifty day simple moving average is $114.60 and its 200-day simple moving average is $98.80. The firm has a market capitalization of $37.96 billion, a P/E ratio of 38.54 and a beta of 1.40.

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

Insider Activity at CBRE Group

In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the sale, the chief accounting officer now directly owns 16,606 shares in the company, valued at $1,824,501.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Lindsey S. Caplan sold 2,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the completion of the sale, the chief accounting officer now owns 16,606 shares in the company, valued at approximately $1,824,501.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 217,094 shares in the company, valued at approximately $24,894,168.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,232 shares of company stock worth $3,058,787. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price 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. Morgan Stanley assumed coverage on CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. Raymond James lifted their target price on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. UBS Group cut their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Five 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’s stock. Based on data from MarketBeat, CBRE Group presently has an average rating of “Moderate Buy” and an average target price of $112.33.

CBRE Group Company Profile

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.