CBRE Group, Inc. (NYSE:CBRE) Stake Lifted by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in CBRE Group, Inc. by 89.7%, owning 387,331 shares worth approximately $50.7 million after purchasing an additional 183,099 shares.
• CBRE received positive feedback from analysts, with multiple firms raising their target prices, including Morgan Stanley targeting $170.00 and UBS Group increasing their target from $130.00 to $146.00.
• In its latest earnings report, CBRE Group surpassed expectations with an EPS of $1.19, compared to the consensus estimate of $1.05, and generated revenue of $9.75 billion for the quarter.

Citigroup Inc. boosted its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 89.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 387,331 shares of the financial services provider's stock after buying an additional 183,099 shares during the quarter. Citigroup Inc. owned 0.13% of CBRE Group worth $50,655,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CBRE. Valeo Financial Advisors LLC increased its position in CBRE Group by 4.0% during the first quarter. Valeo Financial Advisors LLC now owns 2,217 shares of the financial services provider's stock worth $290,000 after buying an additional 85 shares during the period. Beverly Hills Private Wealth LLC boosted its holdings in shares of CBRE Group by 1.9% in the first quarter. Beverly Hills Private Wealth LLC now owns 5,067 shares of the financial services provider's stock valued at $663,000 after acquiring an additional 93 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of CBRE Group by 1.3% in the first quarter. Verdence Capital Advisors LLC now owns 8,133 shares of the financial services provider's stock valued at $1,064,000 after acquiring an additional 102 shares during the period. Legacy Advisors LLC boosted its holdings in shares of CBRE Group by 6.4% in the first quarter. Legacy Advisors LLC now owns 1,789 shares of the financial services provider's stock valued at $234,000 after acquiring an additional 108 shares during the period. Finally, Aaron Wealth Advisors LLC boosted its holdings in shares of CBRE Group by 5.1% in the first quarter. Aaron Wealth Advisors LLC now owns 2,244 shares of the financial services provider's stock valued at $293,000 after acquiring an additional 108 shares during the period. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CBRE Group news, CAO Lindsey S. Caplan sold 1,935 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total value of $270,900.00. Following the completion of the transaction, the chief accounting officer owned 20,131 shares in the company, valued at $2,818,340. This represents a 8.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of the company's 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 completion of the transaction, the chief financial officer owned 105,371 shares of the company's stock, valued at approximately $13,603,396.10. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,898 shares of company stock worth $1,122,558 over the last ninety days. Corporate insiders own 0.42% of the company's stock.

Analyst Ratings Changes

CBRE has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Raymond James Financial increased their price target on CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Evercore ISI increased their price target on CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, UBS Group increased their price target on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, CBRE Group has an average rating of "Moderate Buy" and an average target price of $158.00.

CBRE Group Price Performance

Shares of CBRE stock traded up $3.57 during mid-day trading on Wednesday, reaching $159.69. The stock had a trading volume of 1,703,299 shares, compared to its average volume of 1,830,204. The company has a market cap of $47.52 billion, a P/E ratio of 44.73 and a beta of 1.34. The business has a 50-day simple moving average of $142.54 and a 200 day simple moving average of $134.22. CBRE Group, Inc. has a 12-month low of $108.45 and a 12-month high of $161.03. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. The company had revenue of $9.75 billion during the quarter, compared to analysts' expectations of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. On average, sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

About CBRE Group

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.