MBB Public Markets I LLC Increases Stake in CBRE Group, Inc. (NYSE:CBRE)

MBB Public Markets I LLC grew its position in CBRE Group, Inc. (NYSE:CBRE) by 388.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 25,128 shares of the financial services provider’s stock after buying an additional 19,983 shares during the period. MBB Public Markets I LLC’s holdings in CBRE Group were worth $2,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its position in shares of CBRE Group by 6.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 323,311 shares of the financial services provider’s stock valued at $28,810,000 after buying an additional 20,717 shares during the last quarter. DigitalBridge Group Inc. bought a new position in CBRE Group during the 2nd quarter valued at about $5,470,000. Earnest Partners LLC boosted its holdings in shares of CBRE Group by 1.5% during the 2nd quarter. Earnest Partners LLC now owns 3,636,908 shares of the financial services provider’s stock valued at $324,085,000 after acquiring an additional 54,510 shares during the last quarter. Eminence Capital LP grew its stake in shares of CBRE Group by 42.6% in the second quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock worth $135,287,000 after acquiring an additional 453,406 shares during the period. Finally, APG Asset Management N.V. raised its holdings in shares of CBRE Group by 234.7% during the second quarter. APG Asset Management N.V. now owns 38,078 shares of the financial services provider’s stock valued at $3,166,000 after purchasing an additional 26,700 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 16,606 shares in the company, valued at approximately $1,824,501.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The disclosure for this sale can be found here. Insiders sold 27,232 shares of company stock worth $3,058,787 in the last three months. 0.54% of the stock is owned by company insiders.

CBRE Group Stock Performance

CBRE opened at $123.17 on Friday. The company has a 50 day simple moving average of $113.60 and a two-hundred day simple moving average of $98.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $37.79 billion, a P/E ratio of 38.37 and a beta of 1.40. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $124.15.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the prior year, the business posted $0.82 EPS. CBRE Group’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts forecast that CBRE Group, Inc. will post 4.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CBRE. Morgan Stanley began coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective for the company. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. UBS Group dropped their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $100.00 to $123.00 in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.33.

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.