Assenagon Asset Management S.A. Raises Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Assenagon Asset Management S.A. lifted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 212.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,090,631 shares of the financial services provider’s stock after acquiring an additional 741,477 shares during the period. Assenagon Asset Management S.A.’s holdings in CBRE Group were worth $142,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBRE. SBI Securities Co. Ltd. purchased a new stake in shares of CBRE Group during the fourth quarter worth about $25,000. Investment Management Corp VA ADV acquired a new position in shares of CBRE Group in the fourth quarter valued at approximately $28,000. Denver PWM LLC acquired a new position in shares of CBRE Group in the fourth quarter valued at approximately $29,000. Colonial Trust Co SC raised its position in shares of CBRE Group by 183.7% in the fourth quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider’s stock valued at $36,000 after buying an additional 180 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of CBRE Group by 1,400.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider’s stock valued at $37,000 after buying an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

CBRE Group stock opened at $132.93 on Wednesday. CBRE Group, Inc. has a 1 year low of $85.74 and a 1 year high of $147.75. The firm has a 50 day moving average price of $123.12 and a 200 day moving average price of $131.20. The company has a market cap of $39.63 billion, a price-to-earnings ratio of 42.33 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The firm had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. CBRE Group’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the sale, the chief financial officer now directly owns 107,343 shares in the company, valued at $13,491,941.67. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad J. Doellinger sold 494 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $126.05, for a total transaction of $62,268.70. Following the sale, the insider now owns 27,945 shares of the company’s stock, valued at approximately $3,522,467.25. This represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,599 shares of company stock worth $584,980 over the last ninety days. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CBRE shares. JPMorgan Chase & Co. cut their price objective on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a research report on Wednesday, April 30th. UBS Group cut their price objective on shares of CBRE Group from $146.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley cut their price objective on shares of CBRE Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.22.

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.