BlackRock Inc. Grows Stake in CBRE Group, Inc. (NYSE:CBRE)

BlackRock Inc. increased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 10.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,590,510 shares of the financial services provider’s stock after purchasing an additional 3,071,977 shares during the quarter. BlackRock Inc. owned approximately 10.01% of CBRE Group worth $2,879,715,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CBRE. Swiss National Bank boosted its stake in CBRE Group by 6.2% during the second quarter. Swiss National Bank now owns 1,368,426 shares of the financial services provider’s stock valued at $117,315,000 after buying an additional 79,489 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in CBRE Group by 13.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,187 shares of the financial services provider’s stock valued at $5,331,000 after buying an additional 7,191 shares during the last quarter. Sfmg LLC boosted its stake in CBRE Group by 6.8% during the second quarter. Sfmg LLC now owns 15,788 shares of the financial services provider’s stock valued at $1,354,000 after buying an additional 1,003 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in CBRE Group during the second quarter valued at approximately $1,412,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in CBRE Group by 6.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 151,793 shares of the financial services provider’s stock valued at $13,013,000 after buying an additional 8,884 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

In other CBRE Group news, COO J. Christopher Kirk sold 18,000 shares of the firm’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $97.01, for a total transaction of $1,746,180.00. Following the transaction, the chief operating officer now directly owns 141,398 shares in the company, valued at approximately $13,717,019.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brandon B. Boze sold 302,000 shares of CBRE Group stock in a transaction on Tuesday, August 10th. The shares were sold at an average price of $96.41, for a total value of $29,115,820.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 661,227 shares of company stock worth $63,439,266. Company insiders own 0.75% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Raymond James raised their price objective on CBRE Group from $93.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Wolfe Research assumed coverage on CBRE Group in a research note on Monday, June 14th. They issued an “outperform” rating and a $112.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $83.00.

Shares of NYSE CBRE opened at $93.73 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 1.39. The business’s 50 day moving average price is $93.69 and its 200-day moving average price is $87.27. CBRE Group, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $99.73. The company has a market cap of $31.47 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 1.83 and a beta of 1.49.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Wednesday, July 28th. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.58. CBRE Group had a return on equity of 20.78% and a net margin of 4.84%. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.05 billion. Sell-side analysts predict that CBRE Group, Inc. will post 4.83 earnings per share for the current year.

CBRE Group Profile

CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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