CBRE Group, Inc. (NYSE:CBRE) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in CBRE Group, Inc. by 46.5%, acquiring an additional 70,759 shares, bringing its total ownership to 223,077 shares valued at approximately $29.2 million.
• CBRE Group's quarterly earnings reported an EPS of $1.19, exceeding analysts' estimates of $1.05, with revenues of $9.75 billion, also above expectations.
• Analysts have given CBRE Group a consensus rating of "Moderate Buy" with an upgraded price target averaging around $158 following positive sentiment among institutional investors.

National Bank of Canada FI grew its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 46.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,077 shares of the financial services provider's stock after buying an additional 70,759 shares during the period. National Bank of Canada FI owned 0.07% of CBRE Group worth $29,174,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in CBRE Group by 322.9% in the 4th quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider's stock worth $1,903,000 after acquiring an additional 11,065 shares during the last quarter. Federated Hermes Inc. increased its position in shares of CBRE Group by 6.6% during the 4th quarter. Federated Hermes Inc. now owns 8,536 shares of the financial services provider's stock valued at $1,121,000 after purchasing an additional 526 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of CBRE Group during the 4th quarter valued at approximately $36,643,000. Rockefeller Capital Management L.P. increased its position in shares of CBRE Group by 7.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 21,640 shares of the financial services provider's stock valued at $2,834,000 after purchasing an additional 1,559 shares during the last quarter. Finally, Townsquare Capital LLC increased its position in shares of CBRE Group by 43.2% during the 4th quarter. Townsquare Capital LLC now owns 8,012 shares of the financial services provider's stock valued at $1,052,000 after purchasing an additional 2,417 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CBRE shares. Evercore ISI increased their price target on CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Morgan Stanley reissued an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Keefe, Bruyette & Woods increased their price target on CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. UBS Group increased their price target on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Raymond James Financial increased their price target on CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $158.00.

Insider Buying and Selling

In other news, CAO Lindsey S. Caplan sold 1,935 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 20,131 shares of the company's stock, valued at $2,818,340. This trade represents a 8.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction on Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the transaction, the chief financial officer directly 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 disclosure for this sale can be found here. Insiders have sold a total of 7,898 shares of company stock worth $1,122,558 in the last 90 days. 0.42% of the stock is currently owned by company insiders.

CBRE Group Trading Up 2.3%

NYSE CBRE traded up $3.57 on Wednesday, reaching $159.69. 1,703,299 shares of the company were exchanged, compared to its average volume of 1,830,204. The business's fifty day moving average price is $142.54 and its 200 day moving average price is $134.22. The stock has a market capitalization of $47.52 billion, a P/E ratio of 44.73 and a beta of 1.34. 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, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $161.03.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings results 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. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. The business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. Analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

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.