Public Sector Pension Investment Board Acquires 6,718 Shares of CBRE Group, Inc. (NYSE:CBRE)

Public Sector Pension Investment Board grew its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 19.2% during the second quarter, Holdings Channel reports. The institutional investor owned 41,709 shares of the financial services provider’s stock after purchasing an additional 6,718 shares during the quarter. Public Sector Pension Investment Board’s holdings in CBRE Group were worth $3,717,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Fidelis Capital Partners LLC raised its holdings in CBRE Group by 2.5% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,912 shares of the financial services provider’s stock valued at $349,000 after buying an additional 96 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of CBRE Group in the second quarter valued at about $371,000. ProShare Advisors LLC raised its stake in shares of CBRE Group by 31.6% during the second quarter. ProShare Advisors LLC now owns 65,383 shares of the financial services provider’s stock valued at $5,826,000 after acquiring an additional 15,716 shares during the last quarter. Profund Advisors LLC boosted its holdings in shares of CBRE Group by 4.2% during the second quarter. Profund Advisors LLC now owns 4,671 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 187 shares during the period. Finally, Sei Investments Co. grew its stake in shares of CBRE Group by 8.3% in the second quarter. Sei Investments Co. now owns 1,541,686 shares of the financial services provider’s stock worth $137,380,000 after purchasing an additional 118,251 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Insider Buying and Selling at CBRE Group

In other news, Director Christopher T. Jenny sold 10,847 shares of the company’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 value of $1,214,864.00. Following the transaction, the director now owns 51,244 shares in the company, valued at $5,739,328. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the transaction, the director now owns 51,244 shares in the company, valued at $5,739,328. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Vikramaditya Kohli sold 1,074 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the transaction, the chief operating officer now directly owns 69,226 shares in the company, valued at $7,538,019.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,232 shares of company stock worth $3,058,787. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CBRE. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI upgraded 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. UBS Group decreased their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Morgan Stanley started coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Stock Performance

Shares of CBRE opened at $123.19 on Friday. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $124.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The stock has a market cap of $37.80 billion, a P/E ratio of 38.38 and a beta of 1.40. The business’s 50 day moving average price is $113.09 and its 200-day moving average price is $98.10.

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

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.