CBRE Group, Inc. (NYSE:CBRE) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 24.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,724,784 shares of the financial services provider’s stock after purchasing an additional 738,704 shares during the quarter. JPMorgan Chase & Co.’s holdings in CBRE Group were worth $487,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sowell Financial Services LLC bought a new stake in shares of CBRE Group during the first quarter valued at about $256,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of CBRE Group by 21.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider’s stock valued at $968,000 after purchasing an additional 1,310 shares in the last quarter. USA Financial Formulas bought a new stake in shares of CBRE Group during the first quarter valued at about $1,101,000. Golden State Wealth Management LLC raised its stake in shares of CBRE Group by 687.1% during the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 213 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of CBRE Group by 4.8% during the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider’s stock valued at $1,042,317,000 after purchasing an additional 368,214 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Stock Performance

CBRE Group stock opened at $153.43 on Tuesday. CBRE Group, Inc. has a fifty-two week low of $107.54 and a fifty-two week high of $161.03. The company has a market cap of $45.65 billion, a P/E ratio of 42.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s 50 day simple moving average is $141.27 and its 200-day simple moving average is $133.89.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The business had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.50 billion. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. As a group, equities research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CBRE shares. Raymond James Financial lifted their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 target price (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Wall Street Zen raised CBRE Group from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their target price on CBRE Group from $131.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Finally, Evercore ISI lifted their target price on CBRE Group from $147.00 to $164.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Buying and Selling

In other news, CAO Lindsey S. Caplan sold 1,494 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total value of $232,122.78. Following the completion of the sale, the chief accounting officer directly owned 26,717 shares of the company’s stock, valued at $4,151,020.29. This represents a 5.30% 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. Also, CFO Emma E. Giamartino sold 1,972 shares of the 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 sale, the chief financial officer directly owned 105,371 shares of the company’s stock, valued at $13,603,396.10. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,898 shares of company stock valued at $1,122,558 over the last three months. 0.42% of the stock is owned by insiders.

CBRE Group 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.