CBRE Group, Inc. $CBRE Stock Purchased by University of Texas Texas AM Investment Management Co.

Key Points

• University of Texas Texas AM Investment Management Co. increased its CBRE stake by 66.2% in the third quarter, adding 15,248 shares to hold 38,276 shares valued at about $4.9 million.
• CBRE reported quarterly EPS of $2.05, beating the $1.96 consensus, while revenue of $11.52 billion came in below estimates; 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, and institutional investors and hedge funds own 98.41% of the stock.

University of Texas Texas AM Investment Management Co. boosted its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 66.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,276 shares of the financial services provider's stock after purchasing an additional 15,248 shares during the period. University of Texas Texas AM Investment Management Co.'s holdings in CBRE Group were worth $4,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of CBRE Group by 33.6% during the 3rd quarter. Brighton Jones LLC now owns 19,844 shares of the financial services provider's stock valued at $2,549,000 after buying an additional 4,993 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of CBRE Group by 23.9% in the 3rd quarter. Candriam S.C.A. now owns 198,582 shares of the financial services provider's stock valued at $25,605,000 after buying an additional 38,310 shares during the period. Ethic Inc. boosted its stake in shares of CBRE Group by 10.5% in the third quarter. Ethic Inc. now owns 73,547 shares of the financial services provider's stock worth $9,449,000 after buying an additional 6,993 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of CBRE Group by 3.2% in the third quarter. Alps Advisors Inc. now owns 17,777 shares of the financial services provider's stock worth $2,284,000 after buying an additional 550 shares during the last quarter. Finally, CenterBook Partners LP boosted its stake in shares of CBRE Group by 468.2% in the third quarter. CenterBook Partners LP now owns 21,126 shares of the financial services provider's stock worth $2,714,000 after buying an additional 17,408 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Trading Down 0.1%

CBRE stock opened at $135.38 on Monday. CBRE Group, Inc. has a 52-week low of $121.44 and a 52-week high of $174.27. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a market cap of $39.02 billion, a P/E ratio of 28.99 and a beta of 1.24. The company's 50-day simple moving average is $135.04 and its 200-day simple moving average is $141.18.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 26.31% and a net margin of 3.08%. CBRE Group's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. As a group, equities analysts forecast that CBRE Group, Inc. will post 7.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group lifted their price target on CBRE Group from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Evercore lowered their price objective on CBRE Group from $175.00 to $166.00 and set an "outperform" rating on the stock in a research report on Monday, September 28th. Keefe, Bruyette & Woods lowered their price objective on CBRE Group from $174.00 to $164.00 and set an "outperform" rating on the stock in a research report on Friday, October 9th. Wall Street Zen cut shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of CBRE Group from $190.00 to $186.00 in a report on Tuesday, October 13th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.78.

Insider Buying and Selling

In other news, CFO Emma 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 in the company, valued at $16,086,350.91. This trade represents a 2.03% decrease in their position. The sale 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 J. Doellinger sold 228 shares of the stock in a transaction that occurred on 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 in the company, valued at $6,195,259.62. This trade represents 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.

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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