JPMorgan Chase & Co. Increases Stake in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• JPMorgan Chase & Co. increased its stake in CBRE Group by 24.7%, owning approximately 3.7 million shares valued at $487 million as of its latest SEC filing.
• Several institutional investors have made significant changes to their positions in CBRE Group, with notable increases in ownership, including a 687.1% increase by Golden State Wealth Management and a 1,400.0% increase by Thurston Springer Miller Herd & Titak Inc.
• CBRE Group reported earnings per share (EPS) of $1.19 for the quarter, beating estimates, and analysts forecast a full-year EPS of 5.99, indicating positive growth prospects.

JPMorgan Chase & Co. lifted its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 24.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,724,784 shares of the financial services provider's stock after buying an additional 738,704 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.25% of CBRE Group worth $487,127,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in CBRE Group in the 4th quarter worth $28,000. Hughes Financial Services LLC purchased a new stake in CBRE Group in the 1st quarter worth $28,000. Golden State Wealth Management LLC lifted its stake 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. Colonial Trust Co SC lifted its stake in CBRE Group by 183.7% in the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock worth $36,000 after purchasing an additional 180 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in CBRE Group by 1,400.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock worth $37,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group upped their target price 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. Evercore ISI upped their target price 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 increased their price objective on shares of CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial increased their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $158.00.

Insider Activity

In other news, CEO Vikramaditya Kohli sold 1,000 shares of CBRE Group 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 in the company, valued at $17,267,167.70. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction dated 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 owned 105,371 shares in the company, valued at approximately $13,603,396.10. This trade represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,898 shares of company stock worth $1,277,458 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

CBRE Group Stock Performance

Shares of NYSE CBRE traded up $3.57 during midday trading on Wednesday, reaching $159.69. The company had a trading volume of 1,703,299 shares, compared to its average volume of 1,731,039. The business's 50-day simple moving average is $142.54 and its 200 day simple moving average is $134.22. The stock has a market cap of $47.52 billion, a P/E ratio of 44.73 and a beta of 1.34. CBRE Group, Inc. has a 1 year low of $108.45 and a 1 year high of $161.03. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

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

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.