CBRE Group, Inc. $CBRE Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its CBRE Group stake by 52.2% in the third quarter, acquiring 662,421 additional shares and bringing its holdings to 1.93 million shares valued at approximately $248.1 million. Institutional investors collectively own 98.41% of CBRE.
• Analysts maintain a generally positive outlook, with six Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation and an average price target of $178.40.
• CBRE’s latest quarterly results exceeded expectations, with adjusted EPS of $1.56 versus the $1.47 estimate and revenue of $11.23 billion. Revenue rose 15.1% year over year, while insiders sold 5,144 shares worth about $767,000 during the last quarter.

Assenagon Asset Management S.A. increased its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 52.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,930,992 shares of the financial services provider's stock after acquiring an additional 662,421 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.67% of CBRE Group worth $248,075,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CBRE. State of Alaska Department of Revenue increased its holdings in CBRE Group by 174.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 78,644 shares of the financial services provider's stock worth $10,103,000 after purchasing an additional 49,953 shares during the last quarter. Mainsail Asset Management LLC acquired a new position in shares of CBRE Group in the 3rd quarter valued at approximately $202,000. Mather Group LLC. raised its position in shares of CBRE Group by 355.4% in the 3rd quarter. Mather Group LLC. now owns 9,523 shares of the financial services provider's stock valued at $1,223,000 after purchasing an additional 7,432 shares in the last quarter. Reliant Investment Management LLC acquired a new position in shares of CBRE Group in the 3rd quarter valued at approximately $6,388,000. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of CBRE Group by 187.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 8,633 shares of the financial services provider's stock valued at $1,109,000 after buying an additional 5,628 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total transaction of $333,652.50. Following the transaction, the chief financial officer owned 108,479 shares of the company's stock, valued at $16,086,350.91. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chad Doellinger sold 228 shares of CBRE Group stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $33,810.12. Following the completion of the transaction, the insider owned 41,778 shares of the company's stock, valued at approximately $6,195,259.62. The trade was a 0.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,144 shares of company stock valued at $767,363 in the last quarter. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CBRE shares. Keefe, Bruyette & Woods decreased their price target on shares of CBRE Group from $174.00 to $164.00 and set an "outperform" rating for the company in a research report on Friday, October 9th. Weiss Ratings restated a "hold (c+)" rating on shares of CBRE Group in a research note on Friday, August 21st. UBS Group lifted their price target on shares of CBRE Group from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Wall Street Zen cut shares of CBRE Group from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, Evercore reaffirmed an "outperform" rating and issued a $175.00 price target on shares of CBRE Group in a report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, CBRE Group presently has an average rating of "Moderate Buy" and a consensus target price of $178.40.

CBRE Group Stock Performance

Shares of CBRE stock opened at $135.31 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.14 and a current ratio of 1.14. CBRE Group, Inc. has a one year low of $121.69 and a one year high of $174.27. The company's 50-day simple moving average is $140.95 and its 200-day simple moving average is $139.59. The stock has a market capitalization of $39.18 billion, a price-to-earnings ratio of 31.04 and a beta of 1.23.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.09. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $11.18 billion. CBRE Group had a return on equity of 25.12% and a net margin of 2.98%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.19 earnings per share. CBRE Group has set its FY 2026 guidance at 7.800-7.900 EPS. Equities analysts anticipate that CBRE Group, Inc. will post 7.78 earnings per share for the current fiscal year.

CBRE Group Company Profile

CBRE Group, Inc is a global commercial real estate services and investment firm headquartered in Dallas, Texas. Through its operations in the Americas, Europe, the Middle East and Africa, and the Asia-Pacific region, the company serves corporations, property owners, investors, lenders, and public-sector organizations.

CBRE's services include commercial property leasing and sales, tenant and occupier representation, capital markets advisory, property valuation, consulting, research, and development services.

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