Earnest Partners LLC Increases Position in CBRE Group Inc (NYSE:CBRE)

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Earnest Partners LLC raised its holdings in shares of CBRE Group Inc (NYSE:CBRE) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,667,068 shares of the financial services provider’s stock after buying an additional 22,396 shares during the period. Earnest Partners LLC owned about 0.50% of CBRE Group worth $85,521,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of CBRE Group by 7.2% during the second quarter. BlackRock Inc. now owns 24,629,194 shares of the financial services provider’s stock valued at $1,263,479,000 after buying an additional 1,646,800 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of CBRE Group by 3.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 55,553 shares of the financial services provider’s stock valued at $2,850,000 after buying an additional 2,103 shares during the period. Qtron Investments LLC purchased a new position in shares of CBRE Group during the second quarter valued at approximately $250,000. US Bancorp DE boosted its position in shares of CBRE Group by 7.1% during the second quarter. US Bancorp DE now owns 70,264 shares of the financial services provider’s stock valued at $3,605,000 after buying an additional 4,664 shares during the period. Finally, ETRADE Capital Management LLC boosted its position in shares of CBRE Group by 17.6% during the second quarter. ETRADE Capital Management LLC now owns 23,339 shares of the financial services provider’s stock valued at $1,197,000 after buying an additional 3,496 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

CBRE has been the subject of several research analyst reports. Compass Point initiated coverage on shares of CBRE Group in a research note on Wednesday, July 10th. They set a “neutral” rating and a $54.00 price target for the company. Raymond James lifted their price target on shares of CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Finally, UBS Group lifted their price target on shares of CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.40.

In related news, insider Robert E. Sulentic sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $50.00, for a total value of $2,000,000.00. Following the completion of the transaction, the insider now owns 829,011 shares of the company’s stock, valued at $41,450,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James R. Groch sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $55.13, for a total transaction of $2,756,500.00. Following the completion of the transaction, the insider now directly owns 404,918 shares of the company’s stock, valued at approximately $22,323,129.34. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

CBRE Group stock opened at $54.38 on Friday. The company has a 50 day moving average price of $52.37 and a 200-day moving average price of $50.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.17. CBRE Group Inc has a fifty-two week low of $37.45 and a fifty-two week high of $56.47. The company has a market capitalization of $18.74 billion, a PE ratio of 16.58, a P/E/G ratio of 1.35 and a beta of 1.71.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.03. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. On average, analysts forecast that CBRE Group Inc will post 3.75 earnings per share for the current year.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

See Also: How are institutional investors different from individual investors?

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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