CBRE Group, Inc. (NYSE:CBRE) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in CBRE Group, Inc. by 13.3%, acquiring a total of 534,642 shares worth approximately $69.92 million.
• CBRE Group recently reported earnings per share of $1.19, exceeding analysts' expectations of $1.05, with revenues totaling $9.75 billion for the quarter.
• Analysts have raised their price targets for CBRE Group, with Morgan Stanley setting a new target at $170.00, reflecting a growing optimism about the company's performance.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 13.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 534,642 shares of the financial services provider's stock after purchasing an additional 62,886 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of CBRE Group worth $69,920,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of CBRE Group in the fourth quarter worth approximately $28,000. Hughes Financial Services LLC acquired a new stake in shares of CBRE Group in the first quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its position in shares of CBRE Group by 687.1% in the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after acquiring an additional 213 shares during the last quarter. Colonial Trust Co SC boosted its position in shares of CBRE Group by 183.7% in the fourth quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock worth $36,000 after acquiring an additional 180 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of CBRE Group by 1,400.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock worth $37,000 after acquiring an additional 266 shares during the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer owned 105,371 shares of the company's stock, valued at $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,494 shares of CBRE Group stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total transaction of $232,122.78. Following the completion of the transaction, the chief accounting officer directly owned 26,717 shares of the company's stock, valued at approximately $4,151,020.29. This represents a 5.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,898 shares of company stock valued at $1,122,558. Insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Raymond James Financial raised their price target on shares of CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, Evercore ISI lifted their price objective on shares of CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, CBRE Group presently has a consensus rating of "Moderate Buy" and an average price target of $158.00.

CBRE Group Stock Down 1.3%

Shares of NYSE:CBRE traded down $1.97 during midday trading on Monday, reaching $153.43. The company had a trading volume of 1,422,190 shares, compared to its average volume of 1,743,266. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13. The stock's fifty day moving average price is $141.27 and its 200-day moving average price is $133.89. The stock has a market capitalization of $45.65 billion, a P/E ratio of 27.90 and a beta of 1.34. CBRE Group, Inc. has a one year low of $107.54 and a one year high of $161.03.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The business 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%. Equities research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

CBRE Group 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.