Sei Investments Co. Purchases 175,344 Shares of CBRE Group, Inc. $CBRE

Key Points

• Sei Investments Co. increased its stake in CBRE Group by 8.7% in the first quarter, adding 175,344 shares and bringing its total holding to 2.18 million shares worth about $295.5 million.
• CBRE reported stronger-than-expected results for the latest quarter, posting $1.61 in earnings per share versus the $1.13 estimate and revenue of $10.53 billion, up 18.1% year over year.
• Wall Street remains generally positive on the stock, with eight Buy ratings and one Hold rating, though recent downgrades and a CFO share sale show some mixed sentiment.

Sei Investments Co. grew its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,181,413 shares of the financial services provider's stock after acquiring an additional 175,344 shares during the quarter. Sei Investments Co. owned about 0.74% of CBRE Group worth $295,494,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Swiss RE Ltd. purchased a new stake in CBRE Group in the 4th quarter worth about $25,000. Navalign LLC purchased a new position in shares of CBRE Group during the fourth quarter valued at approximately $29,000. Ascentis Independent Advisors bought a new position in shares of CBRE Group during the first quarter valued at approximately $30,000. Cassaday & Co Wealth Management LLC bought a new position in shares of CBRE Group during the first quarter valued at approximately $33,000. Finally, Sound Income Strategies LLC raised its holdings in shares of CBRE Group by 5,180.0% in the first quarter. Sound Income Strategies LLC now owns 264 shares of the financial services provider's stock worth $36,000 after buying an additional 259 shares during the period. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $137.16 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average price is $134.10 and its 200-day moving average price is $144.20. The firm has a market cap of $40.16 billion, a P/E ratio of 31.24 and a beta of 1.20. CBRE Group, Inc. has a 12 month low of $121.69 and a 12 month high of $174.27.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.48. The company had revenue of $10.53 billion during the quarter, compared to analyst estimates of $10.22 billion. CBRE Group had a net margin of 3.11% and a return on equity of 24.08%. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, equities research analysts expect that CBRE Group, Inc. will post 7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CBRE shares. Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Jefferies Financial Group reissued a "buy" rating on shares of CBRE Group in a research note on Friday, May 15th. Evercore set a $169.00 price target on shares of CBRE Group in a report on Tuesday, June 30th. UBS Group reiterated a "buy" rating on shares of CBRE Group in a report on Wednesday, June 17th. Finally, Weiss Ratings lowered shares of CBRE Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, CBRE Group has an average rating of "Moderate Buy" and a consensus target price of $178.86.

Insider Activity at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,250 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $130.74, for a total value of $294,165.00. Following the completion of the sale, the chief financial officer owned 110,729 shares of the company's stock, valued at approximately $14,476,709.46. This represents a 1.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.46% of the company's stock.

CBRE Group Company Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.

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