iA Global Asset Management Inc. Takes Position in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• iA Global Asset Management Inc. has acquired 11,343 shares of CBRE Group, Inc., valued at approximately $1.48 million, indicating growing interest from institutional investors in the company.
• Wall Street analysts have upgraded CBRE Group, with a consensus rating of "Moderate Buy" and an average price target of $158.00, reflecting positive growth expectations.
• CBRE Group reported strong quarterly earnings with an EPS of $1.19, exceeding analyst estimates by $0.14, and generated revenue of $9.75 billion during the quarter.

iA Global Asset Management Inc. purchased a new position in CBRE Group, Inc. (NYSE:CBRE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,343 shares of the financial services provider's stock, valued at approximately $1,483,000.

Several other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of CBRE Group by 4.8% in the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock valued at $1,042,317,000 after purchasing an additional 368,214 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of CBRE Group by 217.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock valued at $511,781,000 after purchasing an additional 2,680,337 shares in the last quarter. Northern Trust Corp grew its position in shares of CBRE Group by 12.6% in the fourth quarter. Northern Trust Corp now owns 3,789,513 shares of the financial services provider's stock valued at $497,525,000 after purchasing an additional 424,663 shares in the last quarter. Earnest Partners LLC grew its position in shares of CBRE Group by 1.4% in the fourth quarter. Earnest Partners LLC now owns 3,696,955 shares of the financial services provider's stock valued at $485,373,000 after purchasing an additional 49,862 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of CBRE Group by 10.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,025,256 shares of the financial services provider's stock valued at $397,186,000 after purchasing an additional 295,943 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Down 0.3%

CBRE Group stock traded down $0.53 during midday trading on Monday, reaching $154.87. The company's stock had a trading volume of 190,673 shares, compared to its average volume of 1,827,232. CBRE Group, Inc. has a fifty-two week low of $107.54 and a fifty-two week high of $161.03. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. The company has a market cap of $46.08 billion, a P/E ratio of 43.36 and a beta of 1.34. The business has a 50-day simple moving average of $140.69 and a 200-day simple moving average of $133.80.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. The company had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. On average, research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the sale, the chief financial officer directly owned 105,371 shares of the company's stock, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lindsey S. Caplan sold 1,494 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total transaction of $232,122.78. Following the sale, the chief accounting officer directly owned 26,717 shares of the company's stock, valued at $4,151,020.29. This represents a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,898 shares of company stock valued at $1,122,558. Insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CBRE. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Evercore ISI upped their price objective on CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. UBS Group raised their price target on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price target on CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.00.

CBRE Group Company 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.