Assenagon Asset Management S.A. Increases Position in CBRE Group, Inc. (NYSE:CBRE)

Assenagon Asset Management S.A. lifted its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 46.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 596,923 shares of the financial services provider’s stock after acquiring an additional 189,930 shares during the quarter. Assenagon Asset Management S.A. owned 0.19% of CBRE Group worth $53,192,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of CBRE Group in the 1st quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its position in shares of CBRE Group by 44.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after buying an additional 165 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of CBRE Group during the 4th quarter worth $59,000. Spartan Planning & Wealth Management purchased a new stake in CBRE Group in the 4th quarter worth about $78,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in CBRE Group by 75.9% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 897 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 387 shares during the period. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Price Performance

Shares of NYSE CBRE traded up $1.16 during mid-day trading on Friday, reaching $111.73. 1,455,593 shares of the company were exchanged, compared to its average volume of 1,674,387. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average price is $97.32 and its 200 day moving average price is $92.52. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $114.51. The stock has a market capitalization of $34.28 billion, a PE ratio of 34.80 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. Sell-side analysts forecast that CBRE Group, Inc. will post 4.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Raymond James lifted their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $100.00 to $123.00 in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Morgan Stanley initiated coverage on CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price for the company. Finally, UBS Group decreased their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 3,311 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $360,534.79. Following the transaction, the chief financial officer now owns 71,969 shares in the company, valued at $7,836,704.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Emma E. Giamartino sold 3,311 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $360,534.79. Following the transaction, the chief financial officer now directly owns 71,969 shares of the company’s stock, valued at $7,836,704.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lindsey S. Caplan sold 2,000 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 16,606 shares of the company’s stock, valued at approximately $1,824,501.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,385 shares of company stock valued at $697,223. 0.54% of the stock is currently owned by company 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.