SummitTX Capital L.P. Acquires 41,792 Shares of CBRE Group, Inc. $CBRE

SummitTX Capital L.P. increased its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 135.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,653 shares of the financial services provider's stock after purchasing an additional 41,792 shares during the quarter. SummitTX Capital L.P.'s holdings in CBRE Group were worth $9,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CBRE. State Street Corp grew its stake in shares of CBRE Group by 0.8% during the third quarter. State Street Corp now owns 13,839,768 shares of the financial services provider's stock valued at $2,180,594,000 after buying an additional 105,586 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of CBRE Group by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 9,870,413 shares of the financial services provider's stock valued at $1,337,051,000 after acquiring an additional 302,426 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CBRE Group by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 8,475,131 shares of the financial services provider's stock valued at $1,369,409,000 after acquiring an additional 151,027 shares during the period. Harris Associates L P boosted its holdings in CBRE Group by 0.6% during the 4th quarter. Harris Associates L P now owns 6,928,621 shares of the financial services provider's stock valued at $1,114,053,000 after acquiring an additional 38,646 shares during the period. Finally, Morgan Stanley grew its position in CBRE Group by 6.4% during the 4th quarter. Morgan Stanley now owns 6,691,017 shares of the financial services provider's stock worth $1,075,849,000 after acquiring an additional 403,489 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

Insider Transactions at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 110,729 shares in the company, 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 can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CBRE. Weiss Ratings cut CBRE Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $170.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Jefferies Financial Group reaffirmed a "buy" rating on shares of CBRE Group in a research note on Friday, May 15th. UBS Group reiterated a "buy" rating on shares of CBRE Group in a report on Wednesday, June 17th. Finally, Barclays increased their price target on shares of CBRE Group from $175.00 to $178.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, CBRE Group currently has an average rating of "Moderate Buy" and an average price target of $178.86.

CBRE Group Price Performance

Shares of CBRE stock opened at $139.50 on Monday. The firm has a market cap of $40.85 billion, a P/E ratio of 31.78 and a beta of 1.20. CBRE Group, Inc. has a fifty-two week low of $121.69 and a fifty-two week high of $174.27. The business's 50 day moving average price is $134.36 and its 200-day moving average price is $143.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

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

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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