CBRE Group, Inc. $CBRE Shares Purchased by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its stake in CBRE Group, Inc. by 35.3%, holding 82,909 shares worth approximately $10.84 million.
• Insider activity saw CFO Emma E. Giamartino and CAO Lindsey S. Caplan sell shares, reflecting a decrease in their ownership positions.
• Wall Street analysts have boosted their target prices for CBRE Group, with a consensus rating of "Moderate Buy" and an average target price of $165.22.

Fred Alger Management LLC raised its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 35.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 82,909 shares of the financial services provider's stock after acquiring an additional 21,619 shares during the period. Fred Alger Management LLC's holdings in CBRE Group were worth $10,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock valued at $1,042,317,000 after acquiring an additional 368,214 shares during the period. Invesco Ltd. increased its holdings in CBRE Group by 6.6% in the 1st quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock worth $837,938,000 after acquiring an additional 397,818 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in CBRE Group by 217.4% during the 1st 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 in the last quarter. Northern Trust Corp boosted its position in shares of CBRE Group by 2.1% during the 1st quarter. Northern Trust Corp now owns 3,870,304 shares of the financial services provider's stock valued at $506,158,000 after acquiring an additional 80,791 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of CBRE Group by 24.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock valued at $487,127,000 after acquiring an additional 738,704 shares during the last quarter. Institutional investors own 98.41% of the company's stock.

CBRE Group Stock Up 2.1%

Shares of CBRE Group stock traded up $3.36 during trading on Thursday, hitting $165.98. 1,621,283 shares of the stock traded hands, compared to its average volume of 1,442,886. The stock's fifty day simple moving average is $153.56 and its 200 day simple moving average is $136.96. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $167.56. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The firm has a market cap of $49.39 billion, a P/E ratio of 46.49 and a beta of 1.36.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%.The company had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. On average, equities analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods raised their price target 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. UBS Group raised their price target on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Evercore ISI lifted 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. Finally, JPMorgan Chase & Co. lifted their target price on CBRE Group from $143.00 to $185.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, CBRE Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.22.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CEO Vikramaditya Kohli sold 1,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $154.90, for a total value of $154,900.00. Following the completion of the sale, the chief executive officer owned 111,473 shares of the company's stock, valued at approximately $17,267,167.70. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total value of $315,200.00. Following the completion of the sale, the chief financial officer directly owned 103,371 shares of the company's stock, 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. Insiders have sold 8,926 shares of company stock worth $1,338,073 over the last quarter. 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.