Affinity Investment Advisors LLC Acquires New Holdings in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Affinity Investment Advisors LLC has acquired a new stake in CBRE Group, Inc., buying 2,836 shares valued at approximately $371,000 in the first quarter.
• Significant increases in stakes were also observed from other institutions, including Massachusetts Financial Services Co., which raised its holdings by 217.4% to own nearly 3.9 million shares worth over $511 million.
• CBRE Group reported earnings of $1.19 per share for the last quarter, exceeding the consensus estimate by $0.14, and revealed a revenue of $9.75 billion compared to expected $9.50 billion.

Affinity Investment Advisors LLC acquired a new stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,836 shares of the financial services provider's stock, valued at approximately $371,000.

A number of other large investors have also added to or reduced their stakes in CBRE. Massachusetts Financial Services Co. MA raised its holdings in CBRE Group by 217.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock worth $511,781,000 after purchasing an additional 2,680,337 shares during the last quarter. Nuveen LLC bought a new position in CBRE Group during the 1st quarter worth approximately $214,283,000. GAMMA Investing LLC raised its holdings in CBRE Group by 20,889.0% during the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock worth $168,896,000 after purchasing an additional 1,285,300 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in CBRE Group by 85.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,147,783 shares of the financial services provider's stock worth $281,984,000 after purchasing an additional 991,354 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in CBRE Group by 212.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider's stock worth $142,633,000 after purchasing an additional 741,477 shares during the last quarter. Institutional investors own 98.41% of the company's stock.

Insider Activity at CBRE Group

In related news, CAO Lindsey S. Caplan sold 1,494 shares of CBRE Group stock in a transaction on Tuesday, July 29th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total transaction 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. The trade was a 1.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,898 shares of company stock valued at $1,592,658. 0.42% of the stock is owned by company insiders.

CBRE Group Stock Performance

NYSE CBRE opened at $158.97 on Friday. The company has a fifty day simple moving average of $143.77 and a 200 day simple moving average of $134.38. CBRE Group, Inc. has a 12-month low of $108.45 and a 12-month high of $161.03. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The company has a market cap of $47.30 billion, a P/E ratio of 44.53 and a beta of 1.34.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.50 billion. Sell-side analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

CBRE has been the subject of several analyst reports. Morgan Stanley restated an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Evercore ISI raised their price objective on shares of CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial raised their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, UBS Group raised their price objective on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, CBRE Group has a consensus rating of "Moderate Buy" and a consensus target price of $158.00.

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.

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