Forsta AP Fonden Buys 28,000 Shares of CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Forsta AP Fonden increased its holdings in CBRE Group, Inc. by 44.8% during the first quarter, bringing its total shares to 90,500, valued at approximately $11.84 million.
• CBRE reported earnings of $1.19 per share for the last quarter, exceeding analysts' expectations of $1.05, with revenues also surpassing estimates at $9.75 billion.
• Several analysts have issued positive ratings for CBRE Group, with Morgan Stanley raising its price target from $160 to $170, indicating strong confidence in the company's performance.

Forsta AP Fonden raised its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 44.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,500 shares of the financial services provider's stock after buying an additional 28,000 shares during the period. Forsta AP Fonden's holdings in CBRE Group were worth $11,836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Valeo Financial Advisors LLC boosted its position in shares of CBRE Group by 4.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 2,217 shares of the financial services provider's stock valued at $290,000 after acquiring an additional 85 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its position in shares of CBRE Group by 1.9% during the 1st 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 in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of CBRE Group by 1.3% during the 1st 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 in the last quarter. Legacy Advisors LLC boosted its position in shares of CBRE Group by 6.4% during the 1st 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 in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its position in shares of CBRE Group by 5.1% during the 1st 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 in the last quarter. Institutional investors own 98.41% of the company's stock.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lindsey S. Caplan sold 1,494 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total transaction of $232,122.78. Following the completion of the sale, the chief accounting officer directly owned 26,717 shares of the company's stock, valued at $4,151,020.29. The trade was a 5.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,898 shares of company stock valued at $1,122,558 in the last ninety days. Insiders own 0.42% of the company's stock.

CBRE Group Trading Up 1.7%

Shares of CBRE traded up $2.58 on Tuesday, reaching $156.07. 1,153,073 shares of the company's stock were exchanged, compared to its average volume of 1,830,551. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $46.44 billion, a P/E ratio of 43.72 and a beta of 1.34. The business has a 50 day moving average price of $141.27 and a two-hundred day moving average price of $133.89. CBRE Group, Inc. has a 12 month low of $107.86 and a 12 month 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 for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.50 billion. Research analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Evercore ISI boosted 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. Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Raymond James Financial boosted their target price on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CBRE Group has an average rating of "Moderate Buy" and an average price target of $158.00.

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.