American Assets Investment Management LLC Invests $1.39 Million in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• American Assets Investment Management LLC has acquired 10,594 shares of CBRE Group, Inc. for approximately $1.385 million in the first quarter of this year.
• Several institutional investors recently increased their stakes in CBRE Group, with 98.41% of the stock currently owned by institutional investors.
• CBRE Group reported $1.19 earnings per share for the last quarter, surpassing expectations and indicating strong revenue growth of $9.75 billion.

American Assets Investment Management LLC bought a new position in CBRE Group, Inc. (NYSE:CBRE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,594 shares of the financial services provider's stock, valued at approximately $1,385,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in shares of CBRE Group in the fourth quarter valued at about $28,000. Hughes Financial Services LLC bought a new stake in shares of CBRE Group in the first quarter valued at about $28,000. Golden State Wealth Management LLC boosted its position in shares of 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 valued at $32,000 after acquiring an additional 213 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of CBRE Group by 183.7% during the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 180 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of CBRE Group by 1,400.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 266 shares in the last quarter. Institutional investors own 98.41% of the company's stock.

CBRE Group Price Performance

NYSE CBRE traded down $0.62 during trading on Wednesday, hitting $155.85. 1,585,794 shares of the stock traded hands, compared to its average volume of 1,709,975. The company has a market capitalization of $46.37 billion, a P/E ratio of 43.65 and a beta of 1.34. The firm has a 50-day simple moving average of $138.85 and a 200-day simple moving average of $133.52. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. CBRE Group, Inc. has a 12-month low of $106.15 and a 12-month high of $161.03.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on CBRE shares. UBS Group upped their price target on shares of CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Evercore ISI upped their price target 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. 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 report on Thursday, June 12th. JPMorgan Chase & Co. decreased their price target on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Raymond James Financial increased their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Two equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $158.00.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,972 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the transaction, the chief financial officer directly owned 105,371 shares in the company, valued at $13,603,396.10. The trade was a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,935 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total value of $270,900.00. Following the transaction, the chief accounting officer owned 20,131 shares in the company, valued at approximately $2,818,340. This trade represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,898 shares of company stock valued at $1,122,558. Corporate insiders own 0.42% of the company's stock.

CBRE Group 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.