Prosperity Planning Inc. Acquires 2,455 Shares of CBRE Group, Inc. $CBRE

Key Points

• Prosperity Planning Inc. has increased its holdings in CBRE Group, Inc. by 6.0%, now owning 43,562 shares valued at approximately $6.1 million, making it the 16th largest position in their portfolio.
• Several institutional investors have recently increased their stakes in CBRE Group, indicating strong investment interest, with 98.41% of the stock currently held by institutional investors.
• JPMorgan Chase raised its price target for CBRE Group from $143 to $185, reflecting optimism as multiple analysts suggest a consensus rating of "Moderate Buy" for the stock.

Prosperity Planning Inc. boosted its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,562 shares of the financial services provider's stock after acquiring an additional 2,455 shares during the period. CBRE Group comprises about 1.8% of Prosperity Planning Inc.'s investment portfolio, making the stock its 16th biggest holding. Prosperity Planning Inc.'s holdings in CBRE Group were worth $6,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in CBRE Group by 4.8% in the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock worth $1,042,317,000 after acquiring an additional 368,214 shares during the last quarter. Invesco Ltd. lifted its holdings in CBRE Group by 6.6% in the first quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock worth $837,938,000 after acquiring an additional 397,818 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in CBRE Group by 217.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock worth $511,781,000 after acquiring an additional 2,680,337 shares during the last quarter. Northern Trust Corp lifted its holdings in CBRE Group by 2.1% in the first quarter. Northern Trust Corp now owns 3,870,304 shares of the financial services provider's stock worth $506,158,000 after acquiring an additional 80,791 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of CBRE Group by 24.7% in the first quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock valued at $487,127,000 after purchasing an additional 738,704 shares during the period. Institutional investors own 98.41% of the company's stock.

CBRE Group Price Performance

NYSE:CBRE traded up $0.35 on Tuesday, reaching $162.96. The stock had a trading volume of 568,246 shares, compared to its average volume of 1,776,915. The company has a market capitalization of $48.49 billion, a P/E ratio of 45.64 and a beta of 1.36. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $167.56. 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 stock has a fifty day moving average price of $156.78 and a 200-day moving average price of $138.18.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The company had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. Research analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CBRE shares. Keefe, Bruyette & Woods raised their price target 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. Raymond James Financial raised 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. Evercore ISI raised 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. Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of CBRE Group from $143.00 to $185.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $165.22.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the business'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 transaction, the chief financial officer directly owned 103,371 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Lindsey S. Caplan sold 1,494 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total transaction of $232,122.78. Following the completion of the transaction, the chief accounting officer directly owned 26,717 shares of the company's stock, valued at approximately $4,151,020.29. This represents a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,494 shares of company stock valued at $857,593. Insiders own 0.42% of the company's stock.

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.