Adelante Capital Management LLC Has $17.89 Million Holdings in CBRE Group, Inc. $CBRE

Key Points

• Adelante Capital Management increased its CBRE Group stake by 21.1% in the first quarter, acquiring 23,000 additional shares. Its 132,094 shares were valued at approximately $17.89 million and represented 1.2% of its portfolio.
• Institutional investors own 98.41% of CBRE Group, with major holders including State Street, Principal Financial Group, Geode Capital Management, Harris Associates, and Morgan Stanley increasing their positions.
• Analysts maintain a positive outlook, with eight Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $179.14. CBRE shares opened at $147.84, up 2.8%.

Adelante Capital Management LLC increased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 21.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,094 shares of the financial services provider's stock after purchasing an additional 23,000 shares during the period. CBRE Group makes up 1.2% of Adelante Capital Management LLC's portfolio, making the stock its 25th biggest position. Adelante Capital Management LLC's holdings in CBRE Group were worth $17,893,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its position in shares of CBRE Group by 0.8% in the third quarter. State Street Corp now owns 13,839,768 shares of the financial services provider's stock worth $2,180,594,000 after purchasing an additional 105,586 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in CBRE Group by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 9,870,413 shares of the financial services provider's stock valued at $1,337,051,000 after purchasing an additional 302,426 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CBRE Group by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 8,475,131 shares of the financial services provider's stock worth $1,369,409,000 after buying an additional 151,027 shares during the last quarter. Harris Associates L P lifted its position in CBRE Group by 0.6% during the fourth quarter. Harris Associates L P now owns 6,928,621 shares of the financial services provider's stock worth $1,114,053,000 after acquiring an additional 38,646 shares during the last quarter. Finally, Morgan Stanley boosted its stake in CBRE Group by 6.4% in the 4th quarter. Morgan Stanley now owns 6,691,017 shares of the financial services provider's stock valued at $1,075,849,000 after purchasing an additional 403,489 shares during the period. 98.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CBRE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $170.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Barclays raised their price objective on CBRE Group from $178.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday. Evercore set a $169.00 target price on shares of CBRE Group in a research report on Tuesday, June 30th. UBS Group restated a "buy" rating on shares of CBRE Group in a report on Wednesday, June 17th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of CBRE Group in a research note on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $179.14.

Insider Activity at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,250 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $130.74, for a total transaction of $294,165.00. Following the completion of the sale, the chief financial officer owned 110,729 shares in the company, valued at $14,476,709.46. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is currently owned by corporate insiders.

CBRE Group Trading Up 2.8%

NYSE:CBRE opened at $147.84 on Wednesday. CBRE Group, Inc. has a 12 month low of $121.69 and a 12 month high of $174.27. The stock has a market capitalization of $43.29 billion, a price-to-earnings ratio of 33.68 and a beta of 1.20. The firm has a fifty day simple moving average of $135.02 and a two-hundred day simple moving average of $143.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

About CBRE Group

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.

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