CBRE Group, Inc. $CBRE Stock Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC increased its holdings in CBRE Group, Inc. (NYSE:CBRE) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 311,119 shares of the financial services provider’s stock after acquiring an additional 5,338 shares during the period. Pzena Investment Management LLC’s holdings in CBRE Group were worth $39,969,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBRE. Principal Financial Group Inc. lifted its stake in CBRE Group by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 9,870,413 shares of the financial services provider’s stock worth $1,337,051,000 after acquiring an additional 302,426 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in CBRE Group by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,896,802 shares of the financial services provider’s stock worth $392,368,000 after purchasing an additional 159,482 shares in the last quarter. Sei Investments Co. lifted its position in shares of CBRE Group by 8.7% during the 1st quarter. Sei Investments Co. now owns 2,181,413 shares of the financial services provider’s stock worth $295,494,000 after buying an additional 175,344 shares during the last quarter. Amundi grew its stake in CBRE Group by 12.1% during the 1st quarter. Amundi now owns 1,906,456 shares of the financial services provider’s stock worth $258,249,000 after buying an additional 205,493 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in CBRE Group by 52.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,930,992 shares of the financial services provider’s stock valued at $248,075,000 after buying an additional 662,421 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $141.27 on Thursday. The stock has a market cap of $40.71 billion, a P/E ratio of 30.25 and a beta of 1.24. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm’s 50-day simple moving average is $135.54 and its 200 day simple moving average is $141.51. CBRE Group, Inc. has a fifty-two week low of $121.44 and a fifty-two week high of $174.27.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.96 by $0.09. The firm had revenue of $11.52 billion for the quarter, compared to analysts’ expectations of $11.81 billion. CBRE Group had a return on equity of 26.31% and a net margin of 3.08%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 earnings per share. Equities analysts expect that CBRE Group, Inc. will post 7.76 EPS for the current year.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of recent research reports. UBS Group lifted their target price on shares of CBRE Group from $185.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of CBRE Group in a research note on Friday, August 21st. Jefferies Financial Group cut their price target on CBRE Group from $180.00 to $164.00 in a report on Monday, October 12th. Evercore decreased their target price on CBRE Group from $175.00 to $166.00 and set an “outperform” rating for the company in a report on Monday, September 28th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of CBRE Group from $174.00 to $164.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.78.

Insider Activity at CBRE Group

In other news, insider Chad Doellinger sold 228 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total transaction of $33,810.12. Following the completion of the sale, the insider owned 41,778 shares in the company, valued at approximately $6,195,259.62. This represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $333,652.50. Following the completion of the transaction, the chief financial officer owned 108,479 shares in the company, valued at $16,086,350.91. The trade was a 2.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company’s stock.

CBRE Group Profile

CBRE Group, Inc (NYSE:CBRE) is a global commercial real estate services and investment firm. The company provides advisory, transaction, property management, facilities management, project management, valuation, and consulting services to corporate, institutional, and other real estate clients.

Its businesses support the acquisition, development, leasing, operation, and disposition of commercial properties across sectors such as office, industrial and logistics, retail, multifamily, hospitality, and data centers.