CBRE Group, Inc. $CBRE Stock Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its CBRE stake by 23.9% in the third quarter, adding 38,310 shares to bring its holdings to 198,582 shares, valued at about $25.6 million.
• CBRE beat quarterly EPS estimates, reporting $2.05 versus the $1.96 consensus, while revenue of $11.52 billion fell short of estimates but rose 12.7% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $182.78; the stock opened at $135.38.

Candriam S.C.A. lifted its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 23.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 198,582 shares of the financial services provider's stock after acquiring an additional 38,310 shares during the quarter. Candriam S.C.A. owned approximately 0.07% of CBRE Group worth $25,605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new stake in CBRE Group during the 1st quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of CBRE Group in the first quarter worth $33,000. Brown Lisle Cummings Inc. increased its stake in shares of CBRE Group by 511.9% in the third quarter. Brown Lisle Cummings Inc. now owns 257 shares of the financial services provider's stock worth $33,000 after purchasing an additional 215 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of CBRE Group during the 2nd quarter valued at $39,000. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of CBRE Group during the 3rd quarter valued at $41,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CBRE Group

In other news, CFO Emma Giamartino sold 2,250 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $148.29, for a total transaction of $333,652.50. Following the completion of the transaction, the chief financial officer owned 108,479 shares in the company, valued at $16,086,350.91. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 J. Doellinger sold 228 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were 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 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. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of CBRE Group in a research note on Friday, August 21st. Barclays increased their price target on CBRE Group from $180.00 to $183.00 and gave the stock an "overweight" rating in a research note on Monday, August 17th. Wall Street Zen lowered CBRE Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. The Goldman Sachs Group raised their price target on CBRE Group from $188.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Finally, UBS Group boosted their price objective on CBRE Group from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, CBRE Group has a consensus rating of "Moderate Buy" and an average target price of $182.78.

CBRE Group Trading Down 0.1%

CBRE Group stock opened at $135.38 on Monday. CBRE Group, Inc. has a 1 year low of $121.44 and a 1 year high of $174.27. The firm's 50 day moving average price is $135.04 and its 200-day moving average price is $141.18. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $39.02 billion, a P/E ratio of 28.99 and a beta of 1.24.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.09. The firm had revenue of $11.52 billion during the quarter, compared to analyst estimates of $11.81 billion. CBRE Group had a net margin of 3.08% and a return on equity of 26.31%. CBRE Group's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share. On average, equities analysts predict 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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