Eminence Capital LP Purchases 453,406 Shares of CBRE Group, Inc. (NYSE:CBRE)

Eminence Capital LP boosted its position in CBRE Group, Inc. (NYSE:CBRE) by 42.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,518,203 shares of the financial services provider’s stock after purchasing an additional 453,406 shares during the period. CBRE Group makes up approximately 2.2% of Eminence Capital LP’s investment portfolio, making the stock its 22nd biggest holding. Eminence Capital LP owned approximately 0.49% of CBRE Group worth $135,287,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC increased its position in shares of CBRE Group by 2.5% during the second quarter. Fidelis Capital Partners LLC now owns 3,912 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 96 shares during the period. Studio Investment Management LLC increased its position in shares of 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 during the period. Mather Group LLC. increased its position in shares of CBRE Group by 8.7% during the second quarter. Mather Group LLC. now owns 1,717 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 138 shares during the period. Rathbones Group PLC increased its position in shares of CBRE Group by 3.0% during the second quarter. Rathbones Group PLC now owns 4,774 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 140 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of CBRE Group by 18.1% during the second quarter. First Horizon Advisors Inc. now owns 941 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 144 shares during the period. Institutional investors own 98.41% of the company’s stock.

Insider Buying and Selling at CBRE Group

In other news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 51,244 shares in the company, valued at $5,739,328. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the transaction, the chief operating officer now owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 51,244 shares in the company, valued at approximately $5,739,328. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,232 shares of company stock valued at $3,058,787. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Trading Down 0.8 %

NYSE:CBRE opened at $122.36 on Thursday. The company has a market capitalization of $37.54 billion, a P/E ratio of 38.12 and a beta of 1.40. The firm has a fifty day simple moving average of $112.07 and a 200-day simple moving average of $97.75. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $124.06. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CBRE shares. Raymond James lifted their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $123.00 in a report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Morgan Stanley started coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $112.33.

CBRE Group Company 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.