American Century Companies Inc. Acquires 13,284 Shares of CBRE Group, Inc. (NYSE:CBRE)

American Century Companies Inc. lifted its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 28.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 59,809 shares of the financial services provider’s stock after acquiring an additional 13,284 shares during the period. American Century Companies Inc.’s holdings in CBRE Group were worth $5,330,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBRE. Crewe Advisors LLC bought a new position in shares of CBRE Group during the 1st quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of CBRE Group by 44.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 165 shares during the period. EdgeRock Capital LLC bought a new position in shares of CBRE Group during the 2nd quarter worth about $75,000. Spartan Planning & Wealth Management bought a new position in shares of CBRE Group during the 4th quarter worth about $78,000. Finally, Rothschild Investment LLC bought a new position in shares of CBRE Group during the 2nd quarter worth about $80,000. 98.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Raymond James lifted their price target on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $123.00 in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Trading Up 1.3 %

Shares of NYSE CBRE opened at $123.36 on Wednesday. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $123.59. The company has a market cap of $37.85 billion, a PE ratio of 38.43 and a beta of 1.40. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $112.07 and a two-hundred day moving average of $97.75.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts expect that CBRE Group, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In other news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the sale, the director now owns 51,244 shares in the company, valued at approximately $5,739,328. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Lindsey S. Caplan sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $109.87, for a total transaction of $219,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,606 shares in the company, valued at $1,824,501.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the transaction, the director now owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The disclosure for this sale can be found here. Insiders sold a total of 27,232 shares of company stock worth $3,058,787 in the last quarter. 0.54% of the stock is owned by company 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.