NorthCrest Asset Manangement LLC Acquires 2,319 Shares of CBRE Group, Inc. (NYSE:CBRE)

NorthCrest Asset Manangement LLC raised its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,090 shares of the financial services provider’s stock after purchasing an additional 2,319 shares during the period. NorthCrest Asset Manangement LLC’s holdings in CBRE Group were worth $4,731,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CBRE. Harris Associates L P boosted its position 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 during the last quarter. Principal Financial Group Inc. lifted its holdings in CBRE Group by 1.0% during the first quarter. Principal Financial Group Inc. now owns 6,936,745 shares of the financial services provider’s stock valued at $674,529,000 after purchasing an additional 69,164 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in CBRE Group by 2.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,033,928 shares of the financial services provider’s stock worth $586,739,000 after buying an additional 165,094 shares during the period. Cantillon Capital Management LLC raised its holdings in CBRE Group by 13.1% during the fourth quarter. Cantillon Capital Management LLC now owns 5,215,510 shares of the financial services provider’s stock valued at $485,512,000 after acquiring an additional 603,771 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in 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 in the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Trading Up 0.1 %

NYSE CBRE traded up $0.09 during trading on Wednesday, hitting $110.44. The stock had a trading volume of 139,135 shares, compared to its average volume of 1,673,034. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $114.51. The stock has a 50 day simple moving average of $95.83 and a 200 day simple moving average of $92.10. The stock has a market capitalization of $33.89 billion, a price-to-earnings ratio of 34.38 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12.

CBRE Group (NYSE:CBRE) last issued its quarterly 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. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same period last year, the company earned $0.82 EPS. CBRE Group’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts predict that CBRE Group, Inc. will post 4.84 earnings per share for the current year.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 3,311 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $360,534.79. Following the transaction, the chief financial officer now directly owns 71,969 shares in the company, valued at approximately $7,836,704.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $360,534.79. Following the completion of the sale, the chief financial officer now directly owns 71,969 shares in the company, valued at approximately $7,836,704.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the transaction, the chief operating officer now owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. The disclosure for this sale can be found here. Insiders have sold 6,385 shares of company stock valued at $697,223 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CBRE. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $100.00 to $123.00 in a report on Friday, July 26th. Raymond James raised their target price on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, 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 price objective for the company. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.29.

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.