Allianz Asset Management GmbH Raises Holdings in CBRE Group, Inc. (NYSE:CBRE)

Allianz Asset Management GmbH increased its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 59.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 683,807 shares of the financial services provider's stock after buying an additional 254,265 shares during the quarter. Allianz Asset Management GmbH owned about 0.23% of CBRE Group worth $89,428,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new position in CBRE Group during the 1st quarter worth approximately $256,000. Cambridge Investment Research Advisors Inc. raised its stake in CBRE Group by 21.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider's stock worth $968,000 after buying an additional 1,310 shares during the period. USA Financial Formulas acquired a new position in CBRE Group during the 1st quarter worth approximately $1,101,000. Golden State Wealth Management LLC raised its stake in CBRE Group by 687.1% during the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after buying an additional 213 shares during the period. Finally, Principal Financial Group Inc. raised its stake in CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock worth $1,042,317,000 after buying an additional 368,214 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CBRE. Keefe, Bruyette & Woods upped their price target on CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research note on Thursday. UBS Group increased their price objective on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Raymond James Financial increased their price objective on CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research note on Thursday. Wall Street Zen downgraded CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.11.

Insider Activity at CBRE Group

In other CBRE Group news, insider Chad J. Doellinger sold 494 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $126.05, for a total transaction of $62,268.70. Following the sale, the insider owned 27,945 shares in the company, valued at $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lindsey S. Caplan sold 1,497 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total value of $209,580.00. Following the sale, the chief accounting officer owned 28,211 shares in the company, valued at $3,949,540. The trade was a 5.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,031 shares of company stock valued at $814,080. Company insiders own 0.42% of the company's stock.

CBRE Group Stock Performance

Shares of CBRE Group stock traded up $0.40 during trading hours on Friday, reaching $144.99. The company had a trading volume of 241,936 shares, compared to its average volume of 1,807,725. CBRE Group, Inc. has a one year low of $105.17 and a one year high of $147.75. The business has a fifty day simple moving average of $134.15 and a 200 day simple moving average of $132.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $43.22 billion, a PE ratio of 44.38 and a beta of 1.30.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $8.91 billion during the quarter, compared to analyst estimates of $8.73 billion. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The firm's quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. On average, analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share 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.