Federated Hermes Inc. Boosts Stake in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Federated Hermes Inc. increased its shareholding in CBRE Group, Inc. by 768.9% in Q1, holding a total of 74,170 shares valued at approximately $9.7 million.
• Other institutional investors like Massachusetts Financial Services significantly boosted their positions, totaling substantial increases in CBRE shares during the past quarter.
• CBRE Group recently reported an EPS of $1.19, surpassing estimates, with a revenue of $9.75 billion for the past quarter, compared to the expected $9.50 billion.

Federated Hermes Inc. grew its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 768.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,170 shares of the financial services provider's stock after purchasing an additional 65,634 shares during the period. Federated Hermes Inc.'s holdings in CBRE Group were worth $9,700,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBRE. Massachusetts Financial Services Co. MA increased 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 purchasing an additional 2,680,337 shares during the period. GAMMA Investing LLC increased its position in CBRE Group by 20,889.0% during the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock worth $168,896,000 after purchasing an additional 1,285,300 shares during the period. Bessemer Group Inc. increased its position in CBRE Group by 8,046.9% during the 4th quarter. Bessemer Group Inc. now owns 1,140,315 shares of the financial services provider's stock worth $149,710,000 after purchasing an additional 1,126,318 shares during the period. Price T Rowe Associates Inc. MD increased its position in CBRE Group by 85.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,147,783 shares of the financial services provider's stock worth $281,984,000 after purchasing an additional 991,354 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in CBRE Group by 212.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider's stock worth $142,633,000 after purchasing an additional 741,477 shares during the period. Institutional investors and hedge funds own 98.41% of the company's stock.

Insider Activity

In other news, CFO Emma E. Giamartino sold 1,972 shares of the business's 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lindsey S. Caplan sold 1,935 shares of the business'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 sale, the chief accounting officer directly owned 20,131 shares of the company's stock, valued at $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 7,898 shares of company stock worth $1,122,558 over the last quarter. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CBRE has been the subject of a number of research reports. Raymond James Financial lifted their price target on shares of CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. UBS Group lifted their price target on shares of CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Morgan Stanley reiterated an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Evercore ISI lifted their price target on shares of CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.00.

CBRE Group Trading Up 1.4%

CBRE stock traded up $2.13 during midday trading on Monday, hitting $156.07. The stock had a trading volume of 1,805,032 shares, compared to its average volume of 1,660,285. The company's 50-day moving average price is $137.49 and its 200 day moving average price is $133.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $46.44 billion, a PE ratio of 27.64 and a beta of 1.34. CBRE Group, Inc. has a 12-month low of $105.17 and a 12-month high of $161.03.

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

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.