Principal Financial Group Inc. Raises Position in CBRE Group, Inc. (NYSE:CBRE)

Principal Financial Group Inc. raised its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,970,004 shares of the financial services provider's stock after acquiring an additional 368,214 shares during the quarter. Principal Financial Group Inc. owned approximately 2.66% of CBRE Group worth $1,042,317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of CBRE Group during the fourth quarter valued at about $25,000. Investment Management Corp VA ADV purchased a new position in CBRE Group in the fourth quarter worth about $28,000. Golden State Wealth Management LLC grew its position in CBRE Group by 687.1% in the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after acquiring an additional 213 shares in the last quarter. Colonial Trust Co SC grew its position in CBRE Group by 183.7% in the fourth quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock worth $36,000 after acquiring an additional 180 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in 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 acquiring an additional 266 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Stock Performance

Shares of CBRE traded down $0.06 during trading hours on Friday, reaching $142.45. 721,444 shares of the company traded hands, compared to its average volume of 1,816,128. The stock has a market capitalization of $42.47 billion, a P/E ratio of 43.56 and a beta of 1.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. CBRE Group, Inc. has a 12-month low of $87.25 and a 12-month high of $147.75. The business has a fifty day moving average price of $130.00 and a 200-day moving average price of $131.12.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. The company had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. Equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

CBRE has been the subject of several recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Wall Street Zen downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 30th. UBS Group raised their price objective on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $152.11.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,972 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the sale, the chief financial officer owned 105,371 shares of the company's stock, valued at approximately $13,603,396.10. This represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lindsey S. Caplan sold 1,497 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $209,580.00. Following the sale, the chief accounting officer directly owned 28,211 shares of the company's stock, valued at approximately $3,949,540. This represents a 5.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,031 shares of company stock valued at $814,080. 0.42% of the stock is owned by insiders.

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.