Emmett Investment Management LP Acquires New Stake in CBRE Group, Inc. $CBRE

Key Points

• Emmett Investment Management acquired 13,025 CBRE Group shares worth approximately $1.75 million during the first quarter, making CBRE 1.3% of its portfolio. Institutional investors collectively own 98.41% of the company.
• Analyst sentiment remains favorable, with eight Buy ratings and one Hold rating; CBRE has a “Moderate Buy” consensus and an average price target of $178.86.
• CBRE shares opened at $144.06, up 3.3%, with a market capitalization of approximately $42.18 billion. CFO Emma Giamartino sold 2,250 shares under a pre-arranged Rule 10b5-1 plan, while insiders own 0.46% of the stock.

Emmett Investment Management LP bought a new stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,025 shares of the financial services provider's stock, valued at approximately $1,752,000. CBRE Group accounts for approximately 1.3% of Emmett Investment Management LP's portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of CBRE Group in the fourth quarter worth approximately $643,405,000. Swedbank AB boosted its stake in shares of CBRE Group by 119.6% during the 1st quarter. Swedbank AB now owns 2,571,280 shares of the financial services provider's stock worth $348,306,000 after acquiring an additional 1,400,452 shares during the last quarter. Viking Global Investors LP bought a new stake in shares of CBRE Group during the 3rd quarter valued at $190,648,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of CBRE Group by 5,115.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,017,355 shares of the financial services provider's stock worth $163,581,000 after purchasing an additional 997,848 shares in the last quarter. Finally, XN LP purchased a new stake in shares of CBRE Group in the 4th quarter worth $147,134,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction on Friday, May 15th. The shares were sold at an average price of $130.74, for a total value of $294,165.00. Following the sale, the chief financial officer directly owned 110,729 shares in the company, valued at approximately $14,476,709.46. The trade was a 1.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

CBRE has been the subject of several recent research reports. Barclays boosted their price target on CBRE Group from $175.00 to $178.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday. Evercore set a $169.00 target price on shares of CBRE Group in a report on Tuesday, June 30th. UBS Group restated a "buy" rating on shares of CBRE Group in a research note on Wednesday, June 17th. Finally, Weiss Ratings downgraded shares of CBRE Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $178.86.

CBRE Group Stock Up 3.3%

Shares of CBRE opened at $144.06 on Tuesday. The business's 50 day moving average is $134.63 and its 200 day moving average is $143.69. The company has a market capitalization of $42.18 billion, a PE ratio of 32.82 and a beta of 1.20. CBRE Group, Inc. has a 12-month low of $121.69 and a 12-month high of $174.27. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

About CBRE Group

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.

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