Bridges Investment Management Inc. Purchases New Stake in CBRE Group, Inc. (NYSE:CBRE)

Bridges Investment Management Inc. purchased a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,430 shares of the financial services provider’s stock, valued at approximately $1,019,000.

Other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after buying an additional 215 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of CBRE Group during the first quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its position in shares of CBRE Group by 44.8% during the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 165 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of CBRE Group during the second quarter worth $75,000. Finally, Spartan Planning & Wealth Management purchased a new position in shares of CBRE Group in the fourth quarter valued at $78,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares in the company, valued at $5,739,328. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the sale, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lindsey S. Caplan sold 2,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $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 worth $3,058,787 over the last quarter. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

CBRE Group Price Performance

Shares of CBRE opened at $121.60 on Friday. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $122.59. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a market cap of $37.31 billion, a price-to-earnings ratio of 37.88 and a beta of 1.40. The stock has a 50 day moving average of $111.03 and a 200-day moving average of $97.27.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data 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 firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that CBRE Group, Inc. will post 4.81 EPS for the current year.

CBRE Group 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.