Atalanta Sosnoff Capital LLC Makes New Investment in CBRE Group, Inc. $CBRE

Key Points

• Atalanta Sosnoff Capital LLC acquired 308,125 shares of CBRE Group, Inc., valued at approximately $40.3 million, during the first quarter.
• CBRE Group recently reported $1.19 earnings per share for the quarter, exceeding analysts' expectations, with revenue at $9.75 billion.
• Analysts have been optimistic, with seven issuing a Buy rating and updated price targets, including Raymond James increasing theirs to $166.00.

Atalanta Sosnoff Capital LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 308,125 shares of the financial services provider's stock, valued at approximately $40,297,000. Atalanta Sosnoff Capital LLC owned approximately 0.10% of CBRE Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sowell Financial Services LLC acquired a new position in shares of CBRE Group during the first quarter worth approximately $256,000. Cambridge Investment Research Advisors Inc. raised its position in shares of CBRE Group by 21.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider's stock worth $968,000 after purchasing an additional 1,310 shares during the period. USA Financial Formulas purchased a new stake in CBRE Group in the 1st quarter valued at $1,101,000. Golden State Wealth Management LLC raised its position in CBRE Group by 687.1% in the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock valued at $32,000 after buying an additional 213 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in CBRE Group by 4.8% in the 1st 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 buying an additional 368,214 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Lindsey S. Caplan sold 1,494 shares of CBRE Group stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total value of $232,122.78. Following the completion of the sale, the chief accounting officer owned 26,717 shares of the company's stock, valued at approximately $4,151,020.29. This trade represents a 5.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total value of $315,200.00. Following the completion of the sale, the chief financial officer directly owned 103,371 shares of the company's stock, valued at approximately $16,291,269.60. This trade represents a 1.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,926 shares of company stock valued at $1,338,073. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on CBRE Group from $143.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. UBS Group increased their price target on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Raymond James Financial increased their price target on CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Finally, Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.22.

CBRE Group Stock Performance

Shares of CBRE Group stock traded up $2.68 during trading hours on Friday, hitting $164.37. 1,285,140 shares of the company's stock traded hands, compared to its average volume of 1,436,419. CBRE Group, Inc. has a 12-month low of $108.45 and a 12-month high of $165.41. The stock has a market capitalization of $48.91 billion, a price-to-earnings ratio of 46.04 and a beta of 1.36. The company has a fifty day simple moving average of $151.81 and a 200-day simple moving average of $136.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share 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 during the quarter, compared to analyst estimates of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. Equities research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

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.