Parnassus Investments LLC Sells 128,369 Shares of CBRE Group, Inc. $CBRE

Key Points

• Parnassus Investments LLC reduced its stake in CBRE Group, Inc. by 6.5%, owning approximately 0.62% of the company worth $240 million after selling 128,369 shares in the first quarter.
• Multiple analysts have upgraded their price targets for CBRE Group, with targets ranging from $146.00 to $185.00, reflecting a consensus rating of "Moderate Buy."
• CBRE Group reported earnings of $1.19 EPS for the last quarter, exceeding analysts' expectations, and has set guidance for FY 2025 at 6.100-6.200 EPS.

Parnassus Investments LLC lessened its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 6.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,835,456 shares of the financial services provider's stock after selling 128,369 shares during the quarter. Parnassus Investments LLC owned about 0.62% of CBRE Group worth $240,041,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in CBRE Group by 217.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock valued at $511,781,000 after buying an additional 2,680,337 shares in the last quarter. Nuveen LLC bought a new position in shares of CBRE Group during the first quarter valued at $214,283,000. GAMMA Investing LLC raised its position in shares of CBRE Group by 20,889.0% in the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock worth $168,896,000 after purchasing an additional 1,285,300 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in CBRE Group by 212.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider's stock worth $142,633,000 after purchasing an additional 741,477 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in CBRE Group by 24.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock worth $487,127,000 after purchasing an additional 738,704 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

NYSE:CBRE traded down $0.01 during trading hours on Monday, reaching $161.98. The company had a trading volume of 1,399,012 shares, compared to its average volume of 1,518,471. The firm has a market cap of $48.20 billion, a price-to-earnings ratio of 45.37 and a beta of 1.36. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average price is $149.97 and its 200-day moving average price is $135.71. CBRE Group, Inc. has a 52 week low of $108.45 and a 52 week high of $165.41.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. The firm had revenue of $9.75 billion for 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. On average, analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CBRE. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. UBS Group lifted their target price on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Raymond James Financial lifted their target price on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Evercore ISI lifted their target price on shares of CBRE Group from $164.00 to $185.00 and gave the stock an "outperform" rating in a report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $165.22.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total transaction of $315,200.00. Following the completion of the sale, the chief financial officer directly owned 103,371 shares in the company, valued at approximately $16,291,269.60. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lindsey S. Caplan sold 1,494 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total transaction of $232,122.78. Following the sale, the chief accounting officer owned 26,717 shares of the company's stock, valued at $4,151,020.29. This trade represents a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,926 shares of company stock worth $1,338,073 in the last three months. 0.42% of the stock is currently owned by company insiders.

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.