iA Global Asset Management Inc. Sells 8,658 Shares of CBRE Group, Inc. $CBRE

iA Global Asset Management Inc. cut its position in CBRE Group, Inc. (NYSE:CBRE) by 76.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,685 shares of the financial services provider’s stock after selling 8,658 shares during the quarter. iA Global Asset Management Inc.’s holdings in CBRE Group were worth $376,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CBRE. Massachusetts Financial Services Co. MA raised its stake in shares of CBRE Group by 217.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider’s stock valued at $511,781,000 after buying an additional 2,680,337 shares during the period. Nuveen LLC bought a new stake in shares of CBRE Group during the 1st quarter valued at $214,283,000. JPMorgan Chase & Co. raised its stake in shares of CBRE Group by 24.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider’s stock valued at $487,127,000 after purchasing an additional 738,704 shares during the period. Invesco Ltd. raised its stake in shares of CBRE Group by 6.6% during the 1st quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider’s stock valued at $837,938,000 after purchasing an additional 397,818 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of CBRE Group by 9.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,628,945 shares of the financial services provider’s stock valued at $513,931,000 after purchasing an additional 319,115 shares during the period. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $151.42 on Wednesday. The firm has a market capitalization of $45.06 billion, a P/E ratio of 37.39 and a beta of 1.36. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $158.93 and its two-hundred day simple moving average is $145.31. CBRE Group, Inc. has a twelve month low of $108.45 and a twelve month high of $171.00.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.15. The business had revenue of $10.26 billion for the quarter, compared to analyst estimates of $10.11 billion. CBRE Group had a return on equity of 20.55% and a net margin of 3.12%.The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. As a group, equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $167.00 to $168.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Raymond James Financial boosted their price objective on CBRE Group from $163.00 to $166.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CBRE Group in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on CBRE Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, JPMorgan Chase & Co. boosted their price objective on CBRE Group from $143.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.89.

Insider Activity

In other news, CEO Vikramaditya Kohli sold 1,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $154.90, for a total transaction of $154,900.00. Following the transaction, the chief executive officer directly owned 111,473 shares in the company, valued at approximately $17,267,167.70. This represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total value of $315,200.00. Following the transaction, the chief financial officer owned 103,371 shares in the company, valued at $16,291,269.60. This trade represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.42% of the stock is currently owned by corporate insiders.

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.