CBRE Group, Inc. (NYSE:CBRE) Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC grew its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 403,622 shares of the financial services provider's stock after purchasing an additional 8,183 shares during the quarter. Pzena Investment Management LLC owned 0.14% of CBRE Group worth $52,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CBRE. Norges Bank acquired a new position in shares of CBRE Group during the fourth quarter worth approximately $514,609,000. Artisan Partners Limited Partnership raised its stake in CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock valued at $531,736,000 after purchasing an additional 3,011,566 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 acquiring an additional 2,680,337 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of CBRE Group by 20,889.0% during the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock valued at $168,896,000 after acquiring an additional 1,285,300 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of CBRE Group by 8,046.9% during the 4th quarter. Bessemer Group Inc. now owns 1,140,315 shares of the financial services provider's stock valued at $149,710,000 after acquiring an additional 1,126,318 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Chad J. Doellinger sold 494 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $126.05, for a total transaction of $62,268.70. Following the sale, the insider owned 27,945 shares in the company, valued at approximately $3,522,467.25. The trade was a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lindsey S. Caplan sold 1,935 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were 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 owned 20,131 shares in the company, valued at approximately $2,818,340. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,031 shares of company stock valued at $814,080 over the last three months. 0.42% of the stock is owned by company insiders.

CBRE Group Trading Up 0.5%

Shares of CBRE traded up $0.70 during trading hours on Friday, hitting $139.47. 995,865 shares of the stock were exchanged, compared to its average volume of 1,809,873. The firm has a market capitalization of $41.58 billion, a P/E ratio of 42.65 and a beta of 1.30. CBRE Group, Inc. has a fifty-two week low of $96.38 and a fifty-two week high of $147.75. The business has a 50-day moving average of $133.13 and a 200-day moving average of $131.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00.

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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the business posted $0.78 EPS. The firm's revenue was up 12.3% compared to the same quarter last year. On average, research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CBRE shares. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th. Morgan Stanley reissued an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Wall Street Zen lowered shares of CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. 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 report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.78.

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.