Los Angeles Capital Management LLC Buys Shares of 66,273 CBRE Group, Inc. (NYSE:CBRE)

by · The Cerbat Gem

Los Angeles Capital Management LLC bought a new position in CBRE Group, Inc. (NYSE:CBRE – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 66,273 shares of the financial services provider’s stock, valued at approximately $8,250,000.

A number of other institutional investors and hedge funds have also modified their holdings of CBRE. Swedbank AB purchased a new position in CBRE Group during the 1st quarter valued at about $162,576,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of CBRE Group by 60.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after buying an additional 993,963 shares during the period. Eminence Capital LP increased its stake in shares of CBRE Group by 42.6% in the second quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock worth $135,287,000 after acquiring an additional 453,406 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of CBRE Group during the second quarter worth $36,820,000. Finally, Delta Global Management LP boosted its position in CBRE Group by 266.2% during the first quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock valued at $52,877,000 after purchasing an additional 395,297 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CBRE shares. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. 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 for the company. Evercore ISI raised their price target on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Raymond James upped their price objective 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, Keefe, Bruyette & Woods raised their target price on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Five research 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 company. According to MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and an average target price of $116.83.

Check Out Our Latest Analysis on CBRE

CBRE Group Price Performance

NYSE CBRE opened at $135.80 on Tuesday. The stock has a 50-day simple moving average of $123.38 and a 200 day simple moving average of $105.54. CBRE Group, Inc. has a twelve month low of $72.10 and a twelve month high of $137.93. The stock has a market capitalization of $41.56 billion, a PE ratio of 43.67 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. Research analysts anticipate that CBRE Group, Inc. will post 4.96 EPS for the current year.

Insider Activity at CBRE Group

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares in the company, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

About CBRE Group

(Free Report)

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.

Recommended Stories