Sumitomo Mitsui DS Asset Management Company Ltd Has $2.93 Million Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in CBRE Group, Inc. (NYSE:CBRE) by 15.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 32,862 shares of the financial services provider’s stock after acquiring an additional 4,467 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CBRE Group were worth $2,928,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of CBRE Group in the fourth quarter valued at about $42,460,000. Federated Hermes Inc. increased its position in CBRE Group by 14.3% during the 4th quarter. Federated Hermes Inc. now owns 4,380 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 548 shares during the period. Gilbert & Cook Inc. raised its holdings in CBRE Group by 5.6% during the 4th quarter. Gilbert & Cook Inc. now owns 6,081 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 322 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in CBRE Group during the 4th quarter worth approximately $300,000. Finally, Mission Wealth Management LP acquired a new position in shares of CBRE Group in the 4th quarter worth approximately $201,000. Institutional investors own 98.41% of the company’s stock.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were 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 of the company’s stock, valued at $5,739,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the transaction, the chief accounting officer now owns 16,606 shares of the company’s stock, valued at $1,824,501.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,232 shares of company stock worth $1,912,087. 0.54% of the stock is owned by corporate insiders.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $115.14 on Friday. The business has a 50-day simple moving average of $102.49 and a 200 day simple moving average of $94.52. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $118.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $35.33 billion, a price-to-earnings ratio of 35.87 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data 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 the consensus estimate of $8.31 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that CBRE Group, Inc. will post 4.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CBRE. Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. UBS Group decreased their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. 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 assumed coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Finally, Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.29.

About CBRE Group

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.