LPL Financial LLC Buys 21,934 Shares of CBRE Group, Inc. (NYSE:CBRE)

Key Points

• LPL Financial LLC increased its holdings in CBRE Group, Inc. by 31.4%, now owning 91,797 shares valued at $12,005,000, according to its latest SEC filing.
• Several hedge funds modified their positions in CBRE, with the majority of the company's stock, 98.41%, owned by institutional investors.
• CBRE Group reported earnings of $1.19 per share, exceeding estimates, with a revenue of $9.75 billion, indicating strong financial performance.

LPL Financial LLC raised its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 31.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,797 shares of the financial services provider's stock after purchasing an additional 21,934 shares during the quarter. LPL Financial LLC's holdings in CBRE Group were worth $12,005,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CBRE. Valeo Financial Advisors LLC raised its position in shares of CBRE Group by 4.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 2,217 shares of the financial services provider's stock worth $290,000 after acquiring an additional 85 shares in the last quarter. Beverly Hills Private Wealth LLC increased its holdings in 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 worth $663,000 after purchasing an additional 93 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in 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 worth $1,064,000 after purchasing an additional 102 shares in the last quarter. Legacy Advisors LLC grew its holdings in shares of CBRE Group by 6.4% in the first 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 grew its holdings in shares of CBRE Group by 5.1% in the first 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 and hedge funds own 98.41% of the company's stock.

CBRE Group Stock Performance

Shares of CBRE opened at $154.20 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13. CBRE Group, Inc. has a one year low of $106.27 and a one year high of $161.03. The company has a 50-day simple moving average of $139.49 and a two-hundred day simple moving average of $133.67. The firm has a market capitalization of $45.88 billion, a PE ratio of 43.19 and a beta of 1.34.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $9.50 billion. On average, analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief accounting officer owned 20,131 shares of the company's stock, valued at $2,818,340. The trade was a 8.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the chief financial officer directly owned 105,371 shares of the company's stock, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,898 shares of company stock valued at $1,122,558. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

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

About CBRE Group

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.

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