AQR Capital Management LLC Increases Holdings in CBRE Group, Inc. (NYSE:CBRE)

AQR Capital Management LLC boosted its position in CBRE Group, Inc. (NYSE:CBRE) by 127.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 213,148 shares of the financial services provider’s stock after purchasing an additional 119,563 shares during the period. AQR Capital Management LLC’s holdings in CBRE Group were worth $18,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of CBRE Group in the first quarter worth $30,000. Benjamin F. Edwards & Company Inc. lifted its holdings in CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of CBRE Group by 44.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 165 shares during the period. EdgeRock Capital LLC acquired a new stake in CBRE Group during the second quarter valued at $75,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of CBRE Group in the fourth quarter worth about $78,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Up 1.1 %

Shares of NYSE CBRE opened at $124.50 on Tuesday. The stock has a market cap of $38.20 billion, a PE ratio of 38.78 and a beta of 1.40. 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, Inc. has a 12-month low of $64.63 and a 12-month high of $124.84. The company has a 50-day moving average of $114.11 and a 200 day moving average of $98.58.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results 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 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 analysts’ expectations of $8.31 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CBRE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. 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. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $123.00 in a research note on Friday, July 26th. Finally, UBS Group decreased their price target on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

Insider Transactions at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction 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 sale, the chief accounting officer now owns 16,606 shares in the company, valued at $1,824,501.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The disclosure for this sale can be found here. Insiders have sold a total of 27,232 shares of company stock worth $3,058,787 in the last quarter. Company insiders own 0.54% of the company’s stock.

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.