CI Investments Inc. Acquires New Shares in CBRE Group, Inc. $CBRE

by · The Markets Daily

CI Investments Inc. acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 37,123 shares of the financial services provider’s stock, valued at approximately $5,029,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss RE Ltd. bought a new stake in shares of CBRE Group in the fourth quarter worth about $25,000. Navalign LLC acquired a new position in shares of CBRE Group in the 4th quarter valued at approximately $29,000. Ascentis Independent Advisors acquired a new position in shares of CBRE Group in the 1st quarter valued at approximately $30,000. Cassaday & Co Wealth Management LLC bought a new stake in CBRE Group during the 1st quarter worth approximately $33,000. Finally, Sound Income Strategies LLC increased its stake in CBRE Group by 5,180.0% during the 1st quarter. Sound Income Strategies LLC now owns 264 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $130.74, for a total transaction of $294,165.00. Following the transaction, the chief financial officer owned 110,729 shares of the company’s stock, valued at $14,476,709.46. The trade was a 1.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is currently owned by corporate insiders.

CBRE Group Trading Down 1.0%

Shares of NYSE:CBRE opened at $135.69 on Friday. The company’s 50-day moving average price is $134.17 and its two-hundred day moving average price is $144.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. CBRE Group, Inc. has a one year low of $121.69 and a one year high of $174.27. The stock has a market capitalization of $39.73 billion, a PE ratio of 30.91 and a beta of 1.20.

CBRE Group (NYSE:CBRE – Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.48. CBRE Group had a return on equity of 24.08% and a net margin of 3.11%.The business had revenue of $10.53 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. CBRE Group’s revenue was up 18.1% on a year-over-year basis. On average, equities analysts forecast that CBRE Group, Inc. will post 7.75 EPS for the current fiscal year.

Analyst Ratings Changes

CBRE has been the topic of a number of research reports. Weiss Ratings lowered shares of CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Barclays raised their price objective on shares of CBRE Group from $175.00 to $178.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Evercore set a $169.00 target price on shares of CBRE Group in a research note on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and an average price target of $178.86.

View Our Latest Report on CBRE Group

CBRE Group Profile

(Free Report)

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.

Further Reading

Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBRE – Free Report).