MQS Management LLC Boosts Stock Position in CBRE Group, Inc. (NYSE:CBRE)

MQS Management LLC raised its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 71.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,291 shares of the financial services provider’s stock after buying an additional 1,785 shares during the quarter. MQS Management LLC’s holdings in CBRE Group were worth $382,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CBRE. Harris Associates L P raised its stake in shares of CBRE Group by 4.5% during 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 in the last quarter. Principal Financial Group Inc. grew its holdings in CBRE Group by 3.0% in the second quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock worth $636,847,000 after purchasing an additional 210,004 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of CBRE Group by 0.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock worth $542,419,000 after purchasing an additional 53,142 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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. Finally, Earnest Partners LLC lifted its holdings in shares of CBRE Group by 7.2% during the 1st quarter. Earnest Partners LLC now owns 3,582,398 shares of the financial services provider’s stock valued at $348,352,000 after purchasing an additional 239,839 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CBRE. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Morgan Stanley began coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price for the company. Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $100.00 to $123.00 in a research note on Friday, July 26th. Raymond James lifted their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Finally, UBS Group cut their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.33.

Insider Transactions at CBRE Group

In related news, CAO Lindsey S. Caplan sold 2,000 shares of the firm’s stock in a transaction dated 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 $1,824,501.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the transaction, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lindsey S. Caplan sold 2,000 shares of the stock in a transaction dated 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 in the company, valued at $1,824,501.22. 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 quarter. 0.54% of the stock is currently owned by insiders.

CBRE Group Stock Up 1.8 %

CBRE stock opened at $122.49 on Friday. The company has a market capitalization of $37.58 billion, a P/E ratio of 38.16 and a beta of 1.40. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $122.59. The firm’s fifty day simple moving average is $110.49 and its 200-day simple moving average is $97.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12.

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