CBRE Group, Inc. $CBRE Stock Bought by CenterBook Partners LP

Key Points

• CenterBook Partners increased its CBRE stake by 468.2% in the third quarter, ending the period with 21,126 shares worth about $2.7 million. Other institutional investors also added shares; institutions own 98.41% of the company.
• CBRE’s latest quarterly earnings per share of $2.05 topped the $1.96 estimate, while revenue of $11.52 billion fell short of expectations. Revenue grew 12.7% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $182.78; shares opened at $135.38 in the article’s reported session.

CenterBook Partners LP grew its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 468.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,126 shares of the financial services provider's stock after buying an additional 17,408 shares during the period. CenterBook Partners LP's holdings in CBRE Group were worth $2,714,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CBRE. Kornitzer Capital Management Inc. KS raised its stake in shares of CBRE Group by 48.1% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 79,154 shares of the financial services provider's stock valued at $10,722,000 after buying an additional 25,700 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of CBRE Group by 138.3% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 12,971 shares of the financial services provider's stock worth $1,666,000 after acquiring an additional 7,529 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of CBRE Group during the 2nd quarter valued at about $2,209,000. IFP Advisors Inc boosted its position in shares of CBRE Group by 1,536.9% during the 3rd quarter. IFP Advisors Inc now owns 54,313 shares of the financial services provider's stock valued at $6,978,000 after acquiring an additional 50,995 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of CBRE Group during the 2nd quarter valued at about $98,121,000. Institutional investors own 98.41% of the company's stock.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, insider Chad Doellinger sold 228 shares of the business's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Emma E. Giamartino sold 2,250 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $333,652.50. Following the sale, the chief financial officer owned 108,479 shares in the company, valued at $16,086,350.91. The trade was a 2.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of CBRE Group from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Evercore decreased their price objective on CBRE Group from $175.00 to $166.00 and set an "outperform" rating on the stock in a report on Monday, September 28th. JPMorgan Chase & Co. decreased their price objective on CBRE Group from $190.00 to $186.00 in a report on Tuesday, October 13th. Wall Street Zen lowered CBRE Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Finally, The Goldman Sachs Group increased their target price on CBRE Group from $188.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $182.78.

CBRE Group Trading Down 0.7%

Shares of CBRE stock opened at $135.38 on Friday. CBRE Group, Inc. has a 12-month low of $121.44 and a 12-month high of $174.27. The company has a market capitalization of $39.02 billion, a P/E ratio of 28.99 and a beta of 1.24. The firm has a 50-day moving average price of $135.04 and a 200 day moving average price of $141.18. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.09. The firm had revenue of $11.52 billion for the quarter, compared to analysts' expectations of $11.81 billion. CBRE Group had a net margin of 3.08% and a return on equity of 26.31%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. Research analysts forecast that CBRE Group, Inc. will post 7.76 earnings per share for the current fiscal year.

CBRE Group Company Profile

CBRE Group, Inc is a commercial real estate services and investment company serving property owners, occupiers, investors and developers. Its services include property leasing and sales, property and facilities management, project management, valuation, consulting and commercial real estate financing.

The company also provides real estate investment management and development services. Through its global operations, CBRE serves clients across a range of property types and markets, including offices, industrial facilities, retail properties and data centers.

CBRE traces its roots to a real estate business established in San Francisco in 1906.

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