Resona Asset Management Co. Ltd. Purchases 18,826 Shares of CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in CBRE Group, Inc. by 14.1%, owning 152,426 shares valued at approximately $19.9 million as of its latest filing.
• CBRE Group reported $1.19 earnings per share for the last quarter, exceeding analyst expectations, while revenue reached $9.75 billion.
• Multiple analysts have recently upgraded CBRE Group's ratings, with target prices raised as high as $170.00 and an average target price of $158.00.

Resona Asset Management Co. Ltd. boosted its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 14.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,426 shares of the financial services provider's stock after buying an additional 18,826 shares during the quarter. Resona Asset Management Co. Ltd. owned approximately 0.05% of CBRE Group worth $19,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CBRE. Principal Financial Group Inc. increased its stake in shares of CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock worth $1,042,317,000 after purchasing an additional 368,214 shares during the last quarter. Invesco Ltd. increased its stake in shares of CBRE Group by 6.6% during the 1st quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock worth $837,938,000 after purchasing an additional 397,818 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of CBRE Group by 217.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock worth $511,781,000 after purchasing an additional 2,680,337 shares during the last quarter. Northern Trust Corp increased its stake in shares of CBRE Group by 12.6% during the 4th quarter. Northern Trust Corp now owns 3,789,513 shares of the financial services provider's stock worth $497,525,000 after purchasing an additional 424,663 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of CBRE Group by 24.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock worth $487,127,000 after purchasing an additional 738,704 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

Insider Transactions at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total transaction of $315,200.00. Following the completion of the transaction, the chief financial officer directly owned 103,371 shares of the company's stock, valued at $16,291,269.60. This trade represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vikramaditya Kohli sold 1,000 shares of CBRE Group stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $154.90, for a total transaction of $154,900.00. Following the transaction, the chief executive officer directly owned 111,473 shares of the company's stock, valued at $17,267,167.70. This represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,898 shares of company stock valued at $1,592,658. Company insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CBRE shares. Evercore ISI increased their price target on shares of CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. UBS Group increased their price target on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Raymond James Financial raised their target price on shares of CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.00.

CBRE Group Stock Performance

NYSE CBRE traded up $0.43 during midday trading on Friday, hitting $158.97. The company had a trading volume of 1,567,384 shares, compared to its average volume of 1,732,678. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock has a market cap of $47.30 billion, a price-to-earnings ratio of 44.53 and a beta of 1.34. The firm has a fifty day simple moving average of $143.77 and a two-hundred day simple moving average of $134.44. CBRE Group, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $161.03.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The company had revenue of $9.75 billion for 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 analysts forecast 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.