Nordea Investment Management AB Buys 3,632 Shares of CBRE Group, Inc. (NYSE:CBRE)

Nordea Investment Management AB raised its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 396,850 shares of the financial services provider’s stock after acquiring an additional 3,632 shares during the period. Nordea Investment Management AB owned approximately 0.13% of CBRE Group worth $52,094,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. State Street Corp grew its position in CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after buying an additional 692,697 shares in the last quarter. Geode Capital Management LLC increased its stake in CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock valued at $950,270,000 after acquiring an additional 56,888 shares during the last quarter. FMR LLC lifted its stake in CBRE Group by 85.6% during the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of CBRE Group by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock valued at $924,223,000 after purchasing an additional 277,922 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of CBRE Group by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after buying an additional 49,732 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CBRE has been the topic of several research analyst reports. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $163.00 in a research note on Monday, December 16th. The Goldman Sachs Group started coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price target on the stock. Evercore ISI increased their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, Citigroup raised their price objective on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.33.

CBRE Group Stock Performance

Shares of CBRE opened at $128.56 on Wednesday. The firm has a market capitalization of $39.34 billion, a P/E ratio of 41.34 and a beta of 1.39. CBRE Group, Inc. has a 52 week low of $82.75 and a 52 week high of $142.00. The stock has a 50 day moving average price of $133.87 and a two-hundred day moving average price of $119.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. CBRE Group’s revenue was up 14.8% compared to the same quarter last year. Equities analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

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.