Oppenheimer Asset Management Inc. Purchases 11,755 Shares of CBRE Group, Inc. (NYSE:CBRE)

Oppenheimer Asset Management Inc. lifted its holdings in CBRE Group, Inc. (NYSE:CBRE) by 38.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 42,251 shares of the financial services provider’s stock after buying an additional 11,755 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CBRE Group were worth $3,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dai ichi Life Insurance Company Ltd grew its stake in CBRE Group by 42.5% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 21,804 shares of the financial services provider’s stock worth $1,943,000 after purchasing an additional 6,500 shares during the period. Federated Hermes Inc. grew its position in shares of CBRE Group by 110.7% during the 2nd quarter. Federated Hermes Inc. now owns 8,879 shares of the financial services provider’s stock worth $791,000 after buying an additional 4,665 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of CBRE Group by 38.6% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,455 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 963 shares in the last quarter. American Century Companies Inc. lifted its position in shares of CBRE Group by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 59,809 shares of the financial services provider’s stock valued at $5,330,000 after acquiring an additional 13,284 shares during the period. Finally, Studio Investment Management LLC boosted its stake in CBRE Group by 2.5% during the second quarter. Studio Investment Management LLC now owns 5,546 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 135 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Price Performance

CBRE opened at $119.50 on Tuesday. The firm’s fifty day moving average price is $108.71 and its two-hundred day moving average price is $96.54. The company has a market capitalization of $36.67 billion, a price-to-earnings ratio of 37.23 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $120.52.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CBRE shares. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $123.00 in a research note on Friday, July 26th. Morgan Stanley assumed coverage on CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Raymond James upped their target price on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Finally, Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

Insider Activity at CBRE Group

In related news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the sale, the director now directly owns 51,244 shares in the company, valued at $5,739,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the sale, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,232 shares of company stock valued at $3,058,787. 0.54% of the stock is owned by insiders.

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.