CBRE Group, Inc. $CBRE Shares Bought by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC significantly increased its stake in CBRE Group, Inc. by 526.0%, acquiring a total of 93,911 shares valued at approximately $12.3 million.
• Multiple hedge funds expanded their positions in CBRE Group during the first quarter, with significant increases from Massachusetts Financial Services and GAMMA Investing LLC.
• Equity analysts have raised their price targets for CBRE Group, with an average target now set at $165.22, reflecting a consensus recommendation of "Moderate Buy."

Gotham Asset Management LLC boosted its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 526.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 93,911 shares of the financial services provider's stock after purchasing an additional 78,910 shares during the period. Gotham Asset Management LLC's holdings in CBRE Group were worth $12,282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBRE. Sowell Financial Services LLC bought a new position in CBRE Group during the first quarter valued at approximately $256,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of CBRE Group by 21.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider's stock valued at $968,000 after purchasing an additional 1,310 shares during the period. USA Financial Formulas purchased a new position in shares of CBRE Group during the 1st quarter valued at about $1,101,000. Golden State Wealth Management LLC lifted its holdings in CBRE Group by 687.1% in the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after purchasing an additional 213 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock worth $1,042,317,000 after acquiring an additional 368,214 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

Shares of CBRE Group stock traded down $1.49 on Tuesday, hitting $162.03. The stock had a trading volume of 1,377,735 shares, compared to its average volume of 1,443,947. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $165.41. 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 cap of $48.21 billion, a price-to-earnings ratio of 45.39 and a beta of 1.36. The company's 50 day moving average price is $152.69 and its 200 day moving average price is $136.58.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. On average, research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In related news, CAO Lindsey S. Caplan sold 1,935 shares of the stock in a transaction 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 transaction, the chief accounting officer directly owned 20,131 shares of the company's stock, valued at approximately $2,818,340. This trade represents a 8.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vikramaditya Kohli sold 1,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $154.90, for a total value of $154,900.00. Following the sale, the chief executive officer owned 111,473 shares of the company's stock, valued at $17,267,167.70. This represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,926 shares of company stock valued at $1,338,073. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CBRE has been the topic of several research analyst reports. Evercore ISI upped their price objective on CBRE Group from $164.00 to $185.00 and gave the company an "outperform" rating in a research report on Monday, August 25th. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised their target price on CBRE Group from $143.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Finally, Keefe, Bruyette & Woods raised their target price on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.22.

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.