Nuveen LLC Purchases New Position in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Nuveen LLC acquired approximately 1.6 million shares of CBRE Group, valued at $214 million, representing a 0.55% ownership stake in the company as of their recent SEC filing.
• Institutional investors collectively own 98.41% of CBRE Group's stock, with several funds, including Massachusetts Financial Services Co. and GAMMA Investing LLC, significantly increasing their holdings during the first quarter.
• CBRE Group reported an earnings per share (EPS) of $1.19 for the last quarter, exceeding analysts' expectations, with a revenue of $9.75 billion, marking a robust performance for the company.

Nuveen LLC acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,638,498 shares of the financial services provider's stock, valued at approximately $214,283,000. Nuveen LLC owned 0.55% of CBRE Group at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CBRE. Investment Management Corp VA ADV purchased a new stake in shares of CBRE Group during the 4th quarter worth about $28,000. Hughes Financial Services LLC bought a new position in shares of CBRE Group in the 1st quarter valued at approximately $28,000. Golden State Wealth Management LLC raised its stake in shares of 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 valued at $32,000 after acquiring an additional 213 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of CBRE Group by 183.7% in the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 180 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of 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 valued at $37,000 after acquiring an additional 266 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CBRE Group

In other news, CEO Vikramaditya Kohli sold 1,000 shares of CBRE Group stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $154.90, for a total transaction of $154,900.00. Following the sale, the chief executive officer owned 111,473 shares of the company's stock, valued at approximately $17,267,167.70. This trade represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction that occurred 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 sale, the chief financial officer directly owned 105,371 shares in the company, valued at $13,603,396.10. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,898 shares of company stock valued at $1,277,458. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of recent analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods raised their price objective on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Evercore ISI raised 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. Finally, 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 research note 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 issued a strong buy rating to the stock. According to data from MarketBeat, CBRE Group presently has a consensus rating of "Moderate Buy" and an average target price of $158.00.

CBRE Group Stock Performance

NYSE CBRE traded up $3.57 during trading on Wednesday, hitting $159.69. The company's stock had a trading volume of 1,703,299 shares, compared to its average volume of 1,731,039. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $142.54 and a 200 day moving average price of $134.22. The firm 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 52 week low of $108.45 and a 52 week high of $161.03.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share for the quarter, topping 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 company had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. Equities research 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.