Shikiar Asset Management Inc. Takes $6.67 Million Position in CBRE Group, Inc. $CBRE

Key Points

• Shikiar Asset Management Inc. has acquired a stake worth $6.67 million in CBRE Group, Inc., making it the firm's 22nd largest position with 47,576 shares.
• Several large investors, including Principal Financial Group and Invesco Ltd., have recently increased their holdings in CBRE Group, with institutional investors owning 98.41% of the stock.
• CBRE Group reported a quarterly EPS of $1.19, exceeding analyst expectations, and set a FY 2025 EPS guidance of 6.100-6.200, with analysts rating the stock as a "Moderate Buy."

Shikiar Asset Management Inc. acquired a new stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,576 shares of the financial services provider's stock, valued at approximately $6,666,000. CBRE Group makes up 1.9% of Shikiar Asset Management Inc.'s portfolio, making the stock its 22nd largest position.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in CBRE Group by 4.8% during the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock valued at $1,042,317,000 after buying an additional 368,214 shares during the last quarter. Invesco Ltd. lifted its holdings in CBRE Group by 6.6% during the 1st quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock valued at $837,938,000 after buying an additional 397,818 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in CBRE Group by 217.4% in 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 during the period. Northern Trust Corp boosted its holdings in shares of 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 valued at $506,158,000 after purchasing an additional 80,791 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of CBRE Group by 24.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock worth $487,127,000 after buying an additional 738,704 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total transaction of $315,200.00. Following the transaction, the chief financial officer owned 103,371 shares in the company, valued at approximately $16,291,269.60. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lindsey S. Caplan sold 1,494 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total value of $232,122.78. Following the transaction, the chief accounting officer directly owned 26,717 shares in the company, valued at $4,151,020.29. This represents a 5.30% decrease in their position. 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 Price Performance

CBRE Group stock opened at $152.32 on Friday. CBRE Group, Inc. has a 12-month low of $108.45 and a 12-month high of $167.56. The stock has a market cap of $45.32 billion, a P/E ratio of 42.67 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 company has a fifty day simple moving average of $159.50 and a 200-day simple moving average of $140.59.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. Equities analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Evercore ISI lifted their target price on CBRE Group from $164.00 to $185.00 and gave the company an "outperform" rating in a research note on Monday, August 25th. UBS Group raised their price objective on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Raymond James Financial raised their target price on CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley raised their price objective on CBRE Group from $170.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $168.67.

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.

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