CenterBook Partners LP Purchases 17,408 Shares of CBRE Group, Inc. $CBRE

CenterBook Partners LP grew its position in CBRE Group, Inc. (NYSE:CBRE) by 468.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,126 shares of the financial services provider’s stock after purchasing an additional 17,408 shares during the period. CenterBook Partners LP’s holdings in CBRE Group were worth $2,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of CBRE Group by 3.2% during the first quarter. Principal Financial Group Inc. now owns 9,870,413 shares of the financial services provider’s stock valued at $1,337,051,000 after acquiring an additional 302,426 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CBRE Group by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,896,802 shares of the financial services provider’s stock valued at $392,368,000 after acquiring an additional 159,482 shares during the last quarter. Sei Investments Co. increased its position in CBRE Group by 8.7% in the first quarter. Sei Investments Co. now owns 2,181,413 shares of the financial services provider’s stock worth $295,494,000 after purchasing an additional 175,344 shares during the period. Assenagon Asset Management S.A. increased its position in CBRE Group by 52.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,930,992 shares of the financial services provider’s stock worth $248,075,000 after purchasing an additional 662,421 shares during the period. Finally, Amundi raised its holdings in CBRE Group by 12.1% during the 1st quarter. Amundi now owns 1,906,456 shares of the financial services provider’s stock worth $258,249,000 after purchasing an additional 205,493 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

Insider Buying and Selling

In related news, insider Chad J. Doellinger sold 228 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $148.29, for a total transaction of $33,810.12. Following the completion of the transaction, the insider owned 41,778 shares in the company, valued at approximately $6,195,259.62. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Emma Giamartino sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $148.29, for a total transaction of $333,652.50. Following the completion of the sale, the chief financial officer directly owned 108,479 shares of the company’s stock, valued at $16,086,350.91. The trade was a 2.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

CBRE Group Trading Down 0.7%

NYSE:CBRE opened at $135.38 on Friday. CBRE Group, Inc. has a 1-year low of $121.44 and a 1-year high of $174.27. The business’s 50-day moving average price is $135.04 and its two-hundred day moving average price is $141.18. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $39.02 billion, a price-to-earnings ratio of 28.99 and a beta of 1.24.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.09. The firm had revenue of $11.52 billion for the quarter, compared to analysts’ expectations of $11.81 billion. CBRE Group had a return on equity of 26.31% and a net margin of 3.08%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.61 earnings per share. On average, equities analysts expect that CBRE Group, Inc. will post 7.76 earnings per share for the current year.

CBRE Group Company Profile

CBRE Group, Inc is a commercial real estate services and investment company serving property owners, occupiers, investors and developers. Its services include property leasing and sales, property and facilities management, project management, valuation, consulting and commercial real estate financing.

The company also provides real estate investment management and development services. Through its global operations, CBRE serves clients across a range of property types and markets, including offices, industrial facilities, retail properties and data centers.

CBRE traces its roots to a real estate business established in San Francisco in 1906.