Boston Common Asset Management LLC Cuts Position in CBRE Group, Inc. $CBRE

Key Points

• Boston Common Asset Management LLC has reduced its position in CBRE Group, Inc. by 29.9% during the second quarter, now holding 70,322 shares valued at nearly $9.85 million.
• Several institutional investors, including Massachusetts Financial Services and Nuveen, have significantly increased their stakes in CBRE Group, with Massachusetts Financial Services raising its ownership by 217.4%.
• Analysts are bullish on CBRE Group, with multiple firms increasing their price targets, including a boost from $164.00 to $185.00 by Evercore ISI, reflecting a consensus rating of "Moderate Buy."

Boston Common Asset Management LLC lessened its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 29.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,322 shares of the financial services provider's stock after selling 30,018 shares during the period. Boston Common Asset Management LLC's holdings in CBRE Group were worth $9,854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its stake in CBRE Group by 217.4% in 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 purchasing an additional 2,680,337 shares during the last quarter. Nuveen LLC purchased a new position in CBRE Group in the first quarter valued at approximately $214,283,000. Assenagon Asset Management S.A. lifted its stake in CBRE Group by 212.4% in the first quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider's stock valued at $142,633,000 after purchasing an additional 741,477 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in CBRE Group by 24.7% in the first quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock valued at $487,127,000 after purchasing an additional 738,704 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in CBRE Group by 6.6% in the first quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock valued at $837,938,000 after purchasing an additional 397,818 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

Insider Transactions at CBRE Group

In related news, CEO Vikramaditya Kohli sold 1,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $154.90, for a total value of $154,900.00. Following the transaction, the chief executive officer owned 111,473 shares of the company's stock, valued at $17,267,167.70. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total value of $315,200.00. Following the completion of the transaction, the chief financial officer directly owned 103,371 shares in the company, valued at approximately $16,291,269.60. This represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,494 shares of company stock valued at $857,593. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CBRE has been the topic of several research analyst reports. Raymond James Financial upped their price objective on CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Evercore ISI increased 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. Keefe, Bruyette & Woods increased their target price on CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, UBS Group increased their target price on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.22.

CBRE Group Trading Up 0.3%

CBRE Group stock opened at $156.12 on Friday. The stock has a market cap of $46.45 billion, a P/E ratio of 43.73 and a beta of 1.36. CBRE Group, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $167.56. The firm's fifty day moving average price is $159.66 and its 200-day moving average price is $140.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. The firm had revenue of $9.75 billion for the quarter, compared to analysts' expectations 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. Equities research analysts forecast 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.

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