CBRE Group, Inc. (NYSE:CBRE) Shares Purchased by Bank of Nova Scotia

Key Points

• The Bank of Nova Scotia increased its holdings in CBRE Group by 151.8% during the 1st quarter, owning 117,338 shares valued at approximately $15.34 million.
• Analysts have given CBRE Group a consensus rating of "Moderate Buy" with a target price of $158.00, and two analysts have rated the stock as a 'hold' while others favor a 'buy' stance.
• Insider transactions reported a total of 7,898 shares sold by company insiders valued at about $1.12 million over the last quarter, indicating some decrease in insider ownership.

Bank of Nova Scotia lifted its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 151.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,338 shares of the financial services provider's stock after purchasing an additional 70,734 shares during the quarter. Bank of Nova Scotia's holdings in CBRE Group were worth $15,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBRE. Investment Management Corp VA ADV acquired a new position in CBRE Group in the 4th quarter valued at approximately $28,000. Hughes Financial Services LLC bought a new position in CBRE Group in the 1st quarter worth $28,000. Golden State Wealth Management LLC boosted its holdings in shares of CBRE Group by 687.1% during the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 213 shares during the last quarter. Colonial Trust Co SC raised its stake in CBRE Group by 183.7% during the 4th 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 period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in CBRE Group by 1,400.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock worth $37,000 after buying an additional 266 shares during the period. 98.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CBRE shares. Raymond James Financial upped their price target on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods increased their target price 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 boosted their target price on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.00.

CBRE Group Trading Down 1.1%

NYSE CBRE traded down $1.68 during trading on Thursday, hitting $154.20. The stock had a trading volume of 1,403,551 shares, compared to its average volume of 1,839,952. The stock has a market capitalization of $45.88 billion, a price-to-earnings ratio of 43.19 and a beta of 1.34. CBRE Group, Inc. has a one year low of $106.27 and a one year high of $161.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day simple moving average of $139.49 and a 200 day simple moving average of $133.67.

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 for the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. Sell-side analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CAO Lindsey S. Caplan sold 1,494 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total value of $232,122.78. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the transaction, the chief financial officer owned 105,371 shares in the company, valued at $13,603,396.10. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,898 shares of company stock worth $1,122,558. 0.42% of the stock is owned by corporate insiders.

CBRE Group Company 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.