Amundi Pioneer Asset Management Inc. increased its stake in shares of CBRE Group Inc (NYSE:CBRE) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 620,620 shares of the financial services provider’s stock after purchasing an additional 15,131 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in CBRE Group were worth $30,691,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in CBRE Group by 7.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 467,585 shares of the financial services provider’s stock valued at $18,722,000 after acquiring an additional 32,532 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of CBRE Group by 1.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 54,083 shares of the financial services provider’s stock worth $2,165,000 after purchasing an additional 786 shares during the period. Legal & General Group Plc lifted its holdings in CBRE Group by 7.0% during the 4th quarter. Legal & General Group Plc now owns 1,765,484 shares of the financial services provider’s stock worth $70,684,000 after buying an additional 114,884 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in CBRE Group by 332.9% during the 1st quarter. NumerixS Investment Technologies Inc now owns 23,350 shares of the financial services provider’s stock worth $1,142,000 after buying an additional 17,956 shares in the last quarter. Finally, Greenleaf Trust acquired a new stake in CBRE Group during the 1st quarter worth approximately $258,000. Hedge funds and other institutional investors own 93.08% of the company’s stock.
In other news, insider Dara Bazzano sold 1,252 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $47.51, for a total transaction of $59,482.52. Following the completion of the transaction, the insider now owns 21,246 shares in the company, valued at $1,009,397.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James R. Groch sold 50,000 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $52.00, for a total transaction of $2,600,000.00. Following the transaction, the chief financial officer now owns 454,918 shares of the company’s stock, valued at approximately $23,655,736. The disclosure for this sale can be found here. Insiders sold 59,766 shares of company stock worth $3,061,995 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.
CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.20. CBRE Group had a net margin of 4.94% and a return on equity of 24.72%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. CBRE Group’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts predict that CBRE Group Inc will post 3.61 earnings per share for the current year.
A number of equities research analysts have recently weighed in on CBRE shares. Bank of America set a $54.00 price objective on shares of CBRE Group and gave the company a “hold” rating in a report on Friday, March 8th. Zacks Investment Research raised shares of CBRE Group from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. JMP Securities reaffirmed a “hold” rating on shares of CBRE Group in a report on Monday, March 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of CBRE Group in a report on Wednesday, February 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.33.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.
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