DNB Asset Management AS Grows Stock Position in CBRE Group Inc (NYSE:CBRE)

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DNB Asset Management AS lifted its stake in CBRE Group Inc (NYSE:CBRE) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,277 shares of the financial services provider’s stock after buying an additional 2,888 shares during the period. DNB Asset Management AS’s holdings in CBRE Group were worth $1,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexavest Inc. purchased a new position in shares of CBRE Group in the second quarter worth about $30,000. Johnson Financial Group Inc. purchased a new position in shares of CBRE Group in the second quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CBRE Group in the second quarter worth about $33,000. Enterprise Financial Services Corp increased its holdings in CBRE Group by 680.6% during the 2nd quarter. Enterprise Financial Services Corp now owns 765 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 667 shares during the period. Finally, Carroll Financial Associates Inc. increased its holdings in CBRE Group by 115.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 798 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 428 shares during the period. Hedge funds and other institutional investors own 93.90% of the company’s stock.

Shares of NYSE:CBRE opened at $52.21 on Monday. CBRE Group Inc has a 1 year low of $37.45 and a 1 year high of $56.47. The company has a market cap of $17.61 billion, a PE ratio of 15.92, a P/E/G ratio of 1.27 and a beta of 1.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s 50-day moving average is $52.58 and its 200 day moving average is $51.18.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. CBRE Group had a return on equity of 24.14% and a net margin of 4.79%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the previous year, the business earned $0.74 EPS. CBRE Group’s revenue was up 11.8% compared to the same quarter last year. Analysts expect that CBRE Group Inc will post 3.75 EPS for the current fiscal year.

CBRE has been the topic of a number of research analyst reports. Compass Point initiated coverage on CBRE Group in a report on Wednesday, July 10th. They set a “neutral” rating and a $54.00 price target on the stock. Raymond James boosted their price target on CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. UBS Group boosted their price target on CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, ValuEngine downgraded CBRE Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. CBRE Group currently has an average rating of “Hold” and an average price target of $57.40.

In other CBRE Group news, insider James R. Groch sold 75,000 shares of CBRE Group stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $54.10, for a total transaction of $4,057,500.00. Following the sale, the insider now directly owns 318,000 shares of the company’s stock, valued at approximately $17,203,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James R. Groch sold 50,000 shares of CBRE Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.13, for a total value of $2,756,500.00. Following the sale, the insider now directly owns 404,918 shares in the company, valued at $22,323,129.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,165,000 shares of company stock worth $170,394,000. 0.74% of the stock is owned by company insiders.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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