Summit Global Investments Increases Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Summit Global Investments grew its position in CBRE Group, Inc. (NYSE:CBRE) by 46.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,347 shares of the financial services provider’s stock after buying an additional 1,689 shares during the period. Summit Global Investments’ holdings in CBRE Group were worth $476,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in shares of CBRE Group in the first quarter valued at $30,000. EverSource Wealth Advisors LLC increased its stake in CBRE Group by 44.8% during the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 165 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of CBRE Group during the fourth quarter worth about $59,000. Spartan Planning & Wealth Management purchased a new position in shares of CBRE Group in the fourth quarter valued at approximately $78,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of CBRE Group by 18.1% in the second quarter. First Horizon Advisors Inc. now owns 941 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 144 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CBRE Group

In related news, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Lindsey S. Caplan sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,606 shares in the company, valued at approximately $1,824,501.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the sale, the chief operating officer now owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,385 shares of company stock worth $697,223. Company insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

CBRE traded up $0.61 during trading on Wednesday, hitting $112.11. 369,228 shares of the stock were exchanged, compared to its average volume of 1,658,319. The firm has a market capitalization of $34.40 billion, a P/E ratio of 34.73 and a beta of 1.40. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $114.51. The stock has a fifty day moving average price of $98.31 and a two-hundred day moving average price of $92.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last posted 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 period in the prior year, the business earned $0.82 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that CBRE Group, Inc. will post 4.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CBRE shares. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Raymond James lifted their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. UBS Group dropped their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted 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. Finally, Morgan Stanley initiated coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.29.

CBRE Group Company 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.