ProShare Advisors LLC Increases Stock Position in CBRE Group, Inc. (NYSE:CBRE)

ProShare Advisors LLC raised its stake in CBRE Group, Inc. (NYSE:CBRE) by 31.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,383 shares of the financial services provider’s stock after buying an additional 15,716 shares during the period. ProShare Advisors LLC’s holdings in CBRE Group were worth $5,826,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CBRE. Wellington Management Group LLP increased its position in shares of CBRE Group by 164.1% during the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after purchasing an additional 2,799,097 shares during the last quarter. Swedbank AB purchased a new position in shares of CBRE Group during the first quarter worth approximately $162,576,000. Parnassus Investments LLC purchased a new position in shares of CBRE Group during the fourth quarter worth approximately $104,277,000. Harris Associates L P lifted its holdings in shares of CBRE Group by 4.5% in the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after acquiring an additional 683,225 shares during the last quarter. Finally, Delta Global Management LP boosted its stake in shares of CBRE Group by 266.2% in the 1st quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock valued at $52,877,000 after purchasing an additional 395,297 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

Insider Activity at CBRE Group

In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the sale, the chief accounting officer now directly owns 16,606 shares of the company’s stock, valued at approximately $1,824,501.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was 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 of the company’s stock, valued at $1,824,501.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 51,244 shares in the company, valued at $5,739,328. The disclosure for this sale can be found here. Insiders have sold 27,232 shares of company stock worth $3,058,787 over the last 90 days. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Raymond James lifted 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. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. Morgan Stanley started coverage on CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Price Performance

Shares of CBRE stock opened at $122.36 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12. CBRE Group, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $124.06. The firm has a market cap of $37.54 billion, a P/E ratio of 38.12 and a beta of 1.40. The business’s 50 day moving average price is $112.07 and its 200-day moving average price is $97.75.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that CBRE Group, Inc. will post 4.81 earnings per share 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.