Bank of Nova Scotia Has $9.06 Million Stock Holdings in CBRE Group, Inc. $CBRE

Bank of Nova Scotia decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 30.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,902 shares of the financial services provider's stock after selling 29,568 shares during the period. Bank of Nova Scotia's holdings in CBRE Group were worth $9,063,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its holdings in CBRE Group by 5.7% in the 1st quarter. QRG Capital Management Inc. now owns 135,635 shares of the financial services provider's stock worth $18,373,000 after purchasing an additional 7,349 shares during the last quarter. Abacus Wealth Partners LLC acquired a new position in CBRE Group during the fourth quarter valued at approximately $2,147,000. Flputnam Investment Management Co. grew its holdings in CBRE Group by 39.5% during the fourth quarter. Flputnam Investment Management Co. now owns 137,524 shares of the financial services provider's stock valued at $22,112,000 after purchasing an additional 38,944 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of CBRE Group by 5,115.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,017,355 shares of the financial services provider's stock valued at $163,581,000 after purchasing an additional 997,848 shares during the period. Finally, Norges Bank acquired a new stake in shares of CBRE Group in the fourth quarter worth $643,405,000. 98.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,250 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $130.74, for a total transaction of $294,165.00. Following the completion of the transaction, the chief financial officer directly owned 110,729 shares of the company's stock, valued at approximately $14,476,709.46. This trade represents a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company's stock.

CBRE Group Trading Up 0.0%

CBRE Group stock opened at $139.50 on Monday. The business has a 50 day moving average price of $134.36 and a two-hundred day moving average price of $143.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. CBRE Group, Inc. has a 12 month low of $121.69 and a 12 month high of $174.27. The stock has a market cap of $40.85 billion, a price-to-earnings ratio of 31.78 and a beta of 1.20.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.48. The business had revenue of $10.53 billion for the quarter, compared to analysts' expectations of $10.22 billion. CBRE Group had a return on equity of 24.08% and a net margin of 3.11%.CBRE Group's quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, equities analysts forecast that CBRE Group, Inc. will post 7.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of CBRE Group in a research note on Friday, May 15th. Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays raised their price target on CBRE Group from $175.00 to $178.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Evercore set a $169.00 price objective on CBRE Group in a research report on Tuesday, June 30th. Finally, UBS Group reaffirmed a "buy" rating on shares of CBRE Group in a report on Wednesday, June 17th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, CBRE Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.86.

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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