Commerce Bank Has $50.98 Million Stake in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Commerce Bank increased its stake in CBRE Group, Inc. by 102.9%, owning approximately 389,791 shares valued at $50.98 million.
• CBRE Group reported earnings of $1.19 EPS for the quarter, exceeding analysts' expectations, with a revenue of $9.75 billion.
• The company's stock is currently rated with a consensus of "Moderate Buy" among analysts, with a price target averaging around $158.00.

Commerce Bank increased its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 102.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 389,791 shares of the financial services provider's stock after purchasing an additional 197,645 shares during the period. Commerce Bank owned approximately 0.13% of CBRE Group worth $50,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in shares of CBRE Group by 4.8% during the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock worth $1,042,317,000 after buying an additional 368,214 shares in the last quarter. Geode Capital Management LLC lifted its stake in CBRE Group by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider's stock valued at $1,035,229,000 after acquiring an additional 245,821 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 acquiring an additional 2,680,337 shares during the last quarter. Northern Trust Corp grew 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 acquiring an additional 424,663 shares in the last quarter. Finally, Earnest Partners LLC grew its stake in shares of CBRE Group by 1.4% during the 4th quarter. Earnest Partners LLC now owns 3,696,955 shares of the financial services provider's stock worth $485,373,000 after acquiring an additional 49,862 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Stock Down 1.1%

CBRE Group stock opened at $155.63 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.00. The company's 50-day moving average is $136.84 and its 200-day moving average is $133.02. The firm has a market capitalization of $46.31 billion, a PE ratio of 43.59 and a beta of 1.30. CBRE Group, Inc. has a fifty-two week low of $105.17 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 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 analysts' expectations of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. Sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CBRE shares. Morgan Stanley restated an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Evercore ISI increased their price objective on shares of CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a research note on Wednesday. Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Keefe, Bruyette & Woods upped their target price on CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. reduced their price target on CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.00.

Insider Activity at CBRE Group

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 transaction of $254,585.20. Following the completion of the transaction, the chief financial officer directly 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 hyperlink. Also, CAO Lindsey S. Caplan sold 1,935 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $270,900.00. Following the completion of the transaction, the chief accounting officer owned 20,131 shares in the company, valued at approximately $2,818,340. This represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,031 shares of company stock valued at $1,139,304 over the last quarter. 0.42% of the stock is currently owned by corporate insiders.

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.

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