Mirae Asset Global Investments Co. Ltd. Sells 2,128 Shares of CBRE Group, Inc. $CBRE

Key Points

• Mirae Asset Global Investments Co. Ltd. sold 2,128 shares of CBRE Group, reducing its holdings by 5.9% to a total of 33,868 shares, valued at approximately $4.75 million according to its latest SEC filing.
• CBRE Group reported an earnings per share (EPS) of $1.19 for the quarter, surpassing analyst estimates of $1.05, with total revenue of $9.75 billion, exceeding expectations of $9.50 billion.
• Wall Street analysts have raised their price targets for CBRE Group, with upgrades from firms like JPMorgan Chase & Co. and Evercore ISI, indicating a consensus rating of "Moderate Buy" with an average target price of $165.22.

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,868 shares of the financial services provider's stock after selling 2,128 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in CBRE Group were worth $4,746,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CBRE. Brighton Jones LLC raised its stake in CBRE Group by 322.9% during the 4th quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider's stock valued at $1,903,000 after purchasing an additional 11,065 shares during the period. Merit Financial Group LLC raised its position in shares of CBRE Group by 82.5% during the first quarter. Merit Financial Group LLC now owns 3,559 shares of the financial services provider's stock valued at $465,000 after buying an additional 1,609 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of CBRE Group by 1,400.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock worth $37,000 after buying an additional 266 shares in the last quarter. Gateway Investment Advisers LLC purchased a new position in shares of CBRE Group in the first quarter worth $625,000. Finally, Wedmont Private Capital boosted its position in shares of CBRE Group by 7.6% during the first quarter. Wedmont Private Capital now owns 4,031 shares of the financial services provider's stock worth $527,000 after acquiring an additional 284 shares during the last quarter. Institutional investors own 98.41% of the company's stock.

CBRE Group Trading Down 1.7%

Shares of NYSE CBRE opened at $153.47 on Tuesday. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $167.56. 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 business's 50 day moving average is $159.79 and its two-hundred day moving average is $140.30. The stock has a market capitalization of $45.66 billion, a P/E ratio of 42.99 and a beta of 1.36.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The firm had revenue of $9.75 billion during the quarter, compared to analysts' expectations 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. As a group, research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total value of $315,200.00. Following the completion of the sale, the chief financial officer owned 103,371 shares in the company, valued at approximately $16,291,269.60. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vikramaditya Kohli sold 1,000 shares of CBRE Group stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $154.90, for a total transaction of $154,900.00. Following the transaction, the chief executive officer directly owned 111,473 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders have sold 5,494 shares of company stock valued at $857,593. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on CBRE shares. Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on CBRE Group from $143.00 to $185.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. UBS Group increased their price target on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Morgan Stanley restated an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Finally, Evercore ISI upped their price objective on CBRE Group from $164.00 to $185.00 and gave the stock an "outperform" rating in a report on Monday, August 25th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, CBRE Group has a consensus rating of "Moderate Buy" and an average target price 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.

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