Ascent Group LLC Boosts Stock Position in CBRE Group, Inc. $CBRE

Key Points

• Ascent Group LLC increased its stake in CBRE Group by 83.2%, owning a total of 4,145 shares worth approximately $542,000 after purchasing an additional 1,883 shares.
• CBRE Group reported earnings of $1.19 per share for the latest quarter, exceeding analysts' expectations of $1.05, alongside a revenue of $9.75 billion.
• Several analysts have upgraded their ratings for CBRE Group, with JPMorgan raising the price target from $143.00 to $185.00, reflecting a strong positive outlook for the company.

Ascent Group LLC lifted its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 83.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,145 shares of the financial services provider's stock after purchasing an additional 1,883 shares during the quarter. Ascent Group LLC's holdings in CBRE Group were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in CBRE Group by 217.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock valued at $511,781,000 after buying an additional 2,680,337 shares during the period. Nuveen LLC bought a new position in shares of CBRE Group in the 1st quarter worth about $214,283,000. GAMMA Investing LLC lifted its position 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 valued at $168,896,000 after acquiring an additional 1,285,300 shares during the period. Assenagon Asset Management S.A. boosted its stake in CBRE Group by 212.4% during the first quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider's stock worth $142,633,000 after acquiring an additional 741,477 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of CBRE Group by 24.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock worth $487,127,000 after purchasing an additional 738,704 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Price Performance

CBRE traded down $2.02 on Friday, hitting $163.88. 915,626 shares of the company's stock traded hands, compared to its average volume of 1,473,643. The firm has a market cap of $48.76 billion, a price-to-earnings ratio of 45.91 and a beta of 1.36. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. CBRE Group, Inc. has a one year low of $108.45 and a one year high of $167.56. The company's 50 day simple moving average is $153.99 and its 200-day simple moving average is $137.11.

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, topping analysts' consensus estimates of $1.05 by $0.14. The firm had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.50 billion. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Raymond James Financial increased their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Evercore ISI raised their target price on CBRE Group from $164.00 to $185.00 and gave the stock an "outperform" rating in a research report on Monday, August 25th. 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 research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of CBRE Group from $143.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Finally, Wall Street Zen upgraded shares of 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $165.22.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total value of $315,200.00. Following the transaction, the chief financial officer owned 103,371 shares of the company's stock, valued at $16,291,269.60. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lindsey S. Caplan sold 1,494 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total transaction of $232,122.78. Following the transaction, the chief accounting officer directly owned 26,717 shares in the company, valued at $4,151,020.29. This trade represents a 5.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,926 shares of company stock worth $1,338,073. Insiders own 0.42% of the company's stock.

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.