APG Asset Management N.V. Boosts Stake in CBRE Group, Inc. (NYSE:CBRE)

APG Asset Management N.V. raised its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 234.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,078 shares of the financial services provider’s stock after acquiring an additional 26,700 shares during the period. APG Asset Management N.V.’s holdings in CBRE Group were worth $3,166,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Harris Associates L P grew its position in CBRE Group by 4.5% during the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after acquiring an additional 683,225 shares during the period. Principal Financial Group Inc. lifted its stake in shares of 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 acquiring an additional 210,004 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of CBRE Group by 0.9% in 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 acquiring an additional 53,142 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of CBRE Group by 164.1% in the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after acquiring an additional 2,799,097 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in shares of CBRE Group by 7.2% in the first quarter. Earnest Partners LLC now owns 3,582,398 shares of the financial services provider’s stock worth $348,352,000 after acquiring an additional 239,839 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

CBRE opened at $123.17 on Monday. The stock has a fifty day moving average of $113.60 and a 200-day moving average of $98.36. The firm has a market capitalization of $37.79 billion, a P/E ratio of 38.37 and a beta of 1.40. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month 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.

CBRE Group (NYSE:CBRE) last released 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 analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. Equities analysts forecast that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

Insider Transactions at CBRE Group

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction on 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 transaction, 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. Over the last ninety days, insiders have sold 27,232 shares of company stock valued at $3,058,787. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CBRE. Keefe, Bruyette & Woods upped 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. Raymond James upped their target price on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Morgan Stanley began coverage on CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price for the company. Evercore ISI raised 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, Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.33.

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.