Assenagon Asset Management S.A. Grows Stock Position in CBRE Group, Inc. $CBRE

Key Points

• Assenagon Asset Management S.A. increased its stake in CBRE Group by 13.3%, now owning approximately 1.24 million shares valued at $173.1 million.
• Analysts have upgraded CBRE Group's stock, with seven analysts rating it as "Buy" and two as "Hold," giving it an average price target of $165.22.
• Insider trading activity included CFO Emma Giamartino selling 2,000 shares at $157.60, reducing her ownership by 1.90%.

Assenagon Asset Management S.A. boosted its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 13.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,235,373 shares of the financial services provider's stock after acquiring an additional 144,742 shares during the period. Assenagon Asset Management S.A. owned about 0.41% of CBRE Group worth $173,100,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CBRE. Massachusetts Financial Services Co. MA raised 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 worth $511,781,000 after acquiring an additional 2,680,337 shares during the period. Nuveen LLC acquired a new position in CBRE Group during the first quarter worth $214,283,000. GAMMA Investing LLC raised its position in CBRE Group by 20,889.0% during the first quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock worth $168,896,000 after acquiring an additional 1,285,300 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of CBRE Group by 24.7% during the first quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock worth $487,127,000 after buying an additional 738,704 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of CBRE Group by 6.6% during the first quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock worth $837,938,000 after buying an additional 397,818 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Trading Down 1.1%

Shares of CBRE traded down $1.76 during mid-day trading on Friday, reaching $163.97. The stock had a trading volume of 2,918,262 shares, compared to its average volume of 1,462,473. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $167.56. The business's fifty day moving average is $156.35 and its 200 day moving average is $137.93. The firm has a market cap of $48.79 billion, a price-to-earnings ratio of 45.93 and a beta of 1.36.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating 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. On average, sell-side analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CEO Vikramaditya Kohli sold 1,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $154.90, for a total transaction of $154,900.00. Following the completion of the transaction, the chief executive officer owned 111,473 shares of the company's stock, valued at $17,267,167.70. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lindsey S. Caplan sold 1,935 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total transaction of $270,900.00. Following the transaction, the chief accounting officer directly owned 20,131 shares of the company's stock, valued at approximately $2,818,340. This trade represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,926 shares of company stock valued at $1,338,073 over the last 90 days. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CBRE shares. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Evercore ISI upped their target price on shares of CBRE Group from $164.00 to $185.00 and gave the stock an "outperform" rating in a report on Monday, August 25th. Keefe, Bruyette & Woods upped their target price on shares of CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Raymond James Financial upped their target price on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, UBS Group upped their target price on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.22.

CBRE Group Company 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.