ING Groep NV Boosts Holdings in CBRE Group, Inc. (NYSE:CBRE)

ING Groep NV boosted its stake in CBRE Group, Inc. (NYSE:CBRE) by 132.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,284 shares of the financial services provider’s stock after acquiring an additional 34,899 shares during the period. ING Groep NV’s holdings in CBRE Group were worth $7,629,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. American National Bank & Trust acquired a new stake in shares of CBRE Group during the third quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new position in CBRE Group during the 3rd quarter worth approximately $32,000. Wolff Wiese Magana LLC increased its position in CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after buying an additional 283 shares during the period. Crewe Advisors LLC acquired a new position in CBRE Group during the first quarter worth approximately $30,000. Finally, Asset Dedication LLC purchased a new stake in CBRE Group in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Transactions at CBRE Group

In other news, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 17.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CBRE. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Raymond James upped their target price on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Morgan Stanley assumed coverage on CBRE Group in a research report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target on the stock. Keefe, Bruyette & Woods upped 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. Finally, Evercore ISI lifted their target price on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $116.83.

CBRE Group Stock Performance

NYSE CBRE opened at $130.23 on Friday. The stock has a market capitalization of $39.85 billion, a price-to-earnings ratio of 41.87 and a beta of 1.39. The business’s 50 day moving average is $124.93 and its two-hundred day moving average is $106.60. CBRE Group, Inc. has a 12-month low of $76.63 and a 12-month high of $137.93. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. CBRE Group’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts expect that CBRE Group, Inc. will post 4.96 EPS for the current year.

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.