CBRE Group, Inc. $CBRE Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in CBRE Group, Inc. (NYSE:CBRE) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 71,699 shares of the financial services provider’s stock, valued at approximately $9,211,000.

A number of other large investors also recently bought and sold shares of CBRE. Profund Advisors LLC lifted its holdings in shares of CBRE Group by 38.3% during the third quarter. Profund Advisors LLC now owns 5,300 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 1,468 shares during the last quarter. Vise Technologies Inc. boosted its position in shares of CBRE Group by 20.0% in the 3rd quarter. Vise Technologies Inc. now owns 5,120 shares of the financial services provider’s stock worth $658,000 after purchasing an additional 854 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of CBRE Group by 8.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 2,524 shares of the financial services provider’s stock worth $324,000 after buying an additional 196 shares during the last quarter. Moss Adams Wealth Advisors LLC purchased a new stake in shares of CBRE Group in the 3rd quarter worth approximately $205,000. Finally, Americana Partners LLC bought a new position in CBRE Group during the 3rd quarter valued at approximately $418,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Emma Giamartino sold 2,250 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $148.29, for a total transaction of $333,652.50. Following the sale, the chief financial officer owned 108,479 shares of the company’s stock, valued at $16,086,350.91. This trade represents a 2.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chad J. Doellinger sold 228 shares of CBRE Group stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total transaction of $33,810.12. Following the completion of the sale, the insider owned 41,778 shares of the company’s stock, valued at $6,195,259.62. This represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is currently owned by company insiders.

CBRE Group Stock Performance

Shares of CBRE opened at $141.27 on Thursday. The company has a market cap of $40.71 billion, a price-to-earnings ratio of 17.05 and a beta of 1.24. The business’s fifty day simple moving average is $135.54 and its two-hundred day simple moving average is $141.51. CBRE Group, Inc. has a 12 month low of $121.44 and a 12 month high of $174.27. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.09. The firm had revenue of $11.52 billion for the quarter, compared to the consensus estimate of $11.81 billion. CBRE Group had a return on equity of 26.31% and a net margin of 3.08%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. Research analysts anticipate that CBRE Group, Inc. will post 7.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CBRE. Keefe, Bruyette & Woods lowered their price objective on CBRE Group from $174.00 to $164.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. The Goldman Sachs Group increased their target price on CBRE Group from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. UBS Group raised their price target on CBRE Group from $185.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wall Street Zen lowered CBRE Group from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of CBRE Group in a research note on Friday, August 21st. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and an average price target of $182.78.

CBRE Group Profile

CBRE Group, Inc (NYSE:CBRE) is a global commercial real estate services and investment firm. The company provides advisory, transaction, property management, facilities management, project management, valuation, and consulting services to corporate, institutional, and other real estate clients.

Its businesses support the acquisition, development, leasing, operation, and disposition of commercial properties across sectors such as office, industrial and logistics, retail, multifamily, hospitality, and data centers.