Arizona State Retirement System Buys 140 Shares of CBRE Group, Inc. (NYSE:CBRE)

Arizona State Retirement System boosted its stake in CBRE Group, Inc. (NYSE:CBRE) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,973 shares of the financial services provider’s stock after purchasing an additional 140 shares during the period. Arizona State Retirement System’s holdings in CBRE Group were worth $7,483,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Harris Associates L P lifted its stake in shares of CBRE Group by 4.5% in the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after acquiring an additional 683,225 shares during the last quarter. Principal Financial Group Inc. increased its holdings in CBRE Group by 3.0% in the 2nd quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock worth $636,847,000 after purchasing an additional 210,004 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in CBRE Group by 0.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock valued at $542,419,000 after purchasing an additional 53,142 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of CBRE Group by 164.1% during the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after purchasing an additional 2,799,097 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of CBRE Group during the fourth quarter worth about $381,164,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $113.55 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $34.84 billion, a PE ratio of 35.37 and a beta of 1.40. The firm has a fifty day simple moving average of $105.08 and a 200 day simple moving average of $95.38. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $118.39.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same period last year, the company posted $0.82 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that CBRE Group, Inc. will post 4.81 EPS for the current year.

Insiders Place Their Bets

In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the transaction, the chief accounting officer now directly owns 16,606 shares in the company, valued at approximately $1,824,501.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lindsey S. Caplan sold 2,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $109.87, for a total value of $219,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,606 shares in the company, valued at approximately $1,824,501.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,232 shares of company stock worth $3,058,787. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CBRE. Morgan Stanley started coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. UBS Group dropped their price target on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Raymond James boosted their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their target price on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and a consensus price target of $110.29.

CBRE Group 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.