CBRE Group, Inc. (NYSE:CBRE) Position Increased by Parnassus Investments LLC

Parnassus Investments LLC raised its position in CBRE Group, Inc. (NYSE:CBRE) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,020,910 shares of the financial services provider’s stock after purchasing an additional 98,652 shares during the quarter. Parnassus Investments LLC’s holdings in CBRE Group were worth $251,563,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CBRE. Lindbrook Capital LLC lifted its holdings in shares of CBRE Group by 4.7% during the 3rd quarter. Lindbrook Capital LLC now owns 1,750 shares of the financial services provider’s stock valued at $218,000 after buying an additional 79 shares during the last quarter. Stephens Inc. AR lifted its stake in CBRE Group by 3.1% in the third quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 80 shares during the last quarter. Fidelis Capital Partners LLC grew its position in CBRE Group by 2.1% in the third quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 82 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of CBRE Group by 1.2% during the 3rd quarter. Private Advisor Group LLC now owns 7,688 shares of the financial services provider’s stock worth $957,000 after purchasing an additional 90 shares during the last quarter. Finally, Community Bank & Trust Waco Texas raised its holdings in shares of CBRE Group by 0.6% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 15,280 shares of the financial services provider’s stock valued at $1,902,000 after purchasing an additional 93 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction 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 trade represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is owned by insiders.

CBRE Group Stock Performance

NYSE CBRE opened at $132.67 on Tuesday. The company’s fifty day moving average is $125.61 and its two-hundred day moving average is $107.50. CBRE Group, Inc. has a 52-week low of $76.63 and a 52-week high of $137.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 42.66 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its earnings results 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. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $0.72 earnings per share. Equities research analysts forecast that CBRE Group, Inc. will post 4.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised their target price on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Raymond James increased their price target on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Evercore ISI upped their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Morgan Stanley assumed coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

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.