CIBC Asset Management Inc Increases Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

CIBC Asset Management Inc raised its stake in CBRE Group, Inc. (NYSE:CBRE) by 22.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,810 shares of the financial services provider’s stock after purchasing an additional 9,051 shares during the period. CIBC Asset Management Inc’s holdings in CBRE Group were worth $6,200,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CBRE. Janney Montgomery Scott LLC purchased a new position in CBRE Group in the first quarter valued at approximately $336,000. Empowered Funds LLC increased its stake in CBRE Group by 21.6% in the first quarter. Empowered Funds LLC now owns 3,811 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 678 shares during the last quarter. Intech Investment Management LLC increased its stake in CBRE Group by 232.4% in the first quarter. Intech Investment Management LLC now owns 13,961 shares of the financial services provider’s stock valued at $1,358,000 after purchasing an additional 9,761 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in CBRE Group by 14.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 21,132 shares of the financial services provider’s stock valued at $2,055,000 after purchasing an additional 2,673 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its position in shares of CBRE Group by 112.9% during the first quarter. Lake Street Advisors Group LLC now owns 5,181 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 2,747 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Raymond James raised their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Evercore ISI raised their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Insider Buying and Selling at CBRE Group

In other news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 17.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $130.23 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a fifty day moving average price of $125.26 and a 200 day moving average price of $107.18. CBRE Group, Inc. has a 1-year low of $76.63 and a 1-year high of $137.93. The company has a market cap of $39.85 billion, a PE ratio of 41.87 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter last year, the company earned $0.72 earnings per share. CBRE Group’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts forecast that CBRE Group, Inc. will post 4.94 EPS for the current year.

About CBRE Group

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.