CBRE Group, Inc. (NYSE:CBRE) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its stake in CBRE Group, Inc. (NYSE:CBRE) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,478 shares of the financial services provider’s stock after acquiring an additional 1,455 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in CBRE Group were worth $11,387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new stake in shares of CBRE Group during the 1st quarter worth about $162,576,000. Robeco Institutional Asset Management B.V. increased its position in shares of CBRE Group by 60.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after purchasing an additional 993,963 shares during the last quarter. Eminence Capital LP increased its position in shares of CBRE Group by 42.6% during the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock worth $135,287,000 after purchasing an additional 453,406 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in shares of CBRE Group during the 2nd quarter worth about $36,820,000. Finally, Delta Global Management LP increased its position in shares of CBRE Group by 266.2% during the 1st quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock worth $52,877,000 after purchasing an additional 395,297 shares during the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on CBRE. Morgan Stanley began coverage on CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price for the company. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI lifted their price objective on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Raymond James lifted their price objective on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.83.

CBRE Group Price Performance

CBRE stock opened at $132.05 on Friday. The stock has a market cap of $40.41 billion, a price-to-earnings ratio of 42.46 and a beta of 1.39. CBRE Group, Inc. has a fifty-two week low of $71.96 and a fifty-two week high of $136.92. The business has a 50 day moving average price of $122.61 and a 200 day moving average price of $104.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. Equities research analysts anticipate that CBRE Group, Inc. will post 5.02 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Vikramaditya Kohli sold 1,074 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $116,947.86. Following the sale, the chief operating officer now directly owns 69,226 shares in the company, valued at $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,232 shares of company stock valued at $2,839,047. Company insiders own 0.54% of the company’s stock.

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.