CWA Asset Management Group LLC Increases Stake in CBRE Group, Inc. (NYSE:CBRE)

CWA Asset Management Group LLC lifted its position in CBRE Group, Inc. (NYSE:CBRE) by 23.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,356 shares of the financial services provider’s stock after acquiring an additional 1,957 shares during the quarter. CWA Asset Management Group LLC’s holdings in CBRE Group were worth $1,354,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in CBRE Group by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider’s stock worth $1,035,229,000 after purchasing an additional 245,821 shares during the period. Cantillon Capital Management LLC grew its stake in shares of CBRE Group by 0.5% during the fourth quarter. Cantillon Capital Management LLC now owns 4,748,386 shares of the financial services provider’s stock valued at $623,416,000 after buying an additional 25,142 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of CBRE Group by 17.3% in the fourth quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider’s stock worth $538,390,000 after buying an additional 605,403 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of CBRE Group by 290.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock worth $531,736,000 after buying an additional 3,011,566 shares during the period. Finally, Norges Bank bought a new stake in shares of CBRE Group during the 4th quarter worth approximately $514,609,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CBRE shares. UBS Group cut their price objective on CBRE Group from $146.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods lifted their target price on CBRE Group from $129.00 to $131.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 30th. Morgan Stanley restated an “overweight” rating and issued a $170.00 price target (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Wall Street Zen downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.33.

CBRE Group Price Performance

CBRE opened at $133.35 on Friday. The company has a market capitalization of $39.75 billion, a price-to-earnings ratio of 40.78 and a beta of 1.29. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. CBRE Group, Inc. has a 12-month low of $85.74 and a 12-month high of $147.75. The business’s fifty day simple moving average is $125.40 and its 200-day simple moving average is $130.96.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $8.91 billion during the quarter, compared to analyst estimates of $8.73 billion. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, equities research analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In related news, insider Chad J. Doellinger sold 494 shares of CBRE Group stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total transaction of $62,268.70. Following the transaction, the insider now directly owns 27,945 shares of the company’s stock, valued at $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Emma E. Giamartino sold 1,972 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the transaction, the chief financial officer now directly owns 105,371 shares of the company’s stock, valued at $13,603,396.10. This trade represents a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,599 shares of company stock valued at $333,600. Company insiders own 0.42% of the company’s stock.

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.