CBRE Group, Inc. (NYSE:CBRE) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 23.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,830 shares of the financial services provider’s stock after acquiring an additional 3,358 shares during the period. Van ECK Associates Corp’s holdings in CBRE Group were worth $1,632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in shares of CBRE Group during the fourth quarter worth about $347,784,000. State Street Corp increased its holdings in shares of CBRE Group by 6.0% in the 4th quarter. State Street Corp now owns 14,871,950 shares of the financial services provider’s stock valued at $1,613,755,000 after acquiring an additional 846,053 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of CBRE Group by 345.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 941,612 shares of the financial services provider’s stock valued at $86,176,000 after acquiring an additional 730,172 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in CBRE Group by 27,501.5% during the fourth quarter. 1832 Asset Management L.P. now owns 633,178 shares of the financial services provider’s stock worth $69,426,000 after purchasing an additional 630,884 shares during the last quarter. Finally, Millennium Management LLC increased its stake in CBRE Group by 95.7% during the fourth quarter. Millennium Management LLC now owns 942,635 shares of the financial services provider’s stock valued at $102,285,000 after purchasing an additional 460,866 shares during the last quarter. 96.30% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Up 0.3 %

CBRE opened at $81.21 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.16 and a quick ratio of 1.16. CBRE Group, Inc. has a 12 month low of $67.68 and a 12 month high of $111.00. The stock’s 50 day moving average price is $79.05 and its 200 day moving average price is $84.58. The stock has a market cap of $26.08 billion, a P/E ratio of 13.63 and a beta of 1.38.

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CBRE Group (NYSE:CBRE – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The financial services provider reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.44. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.72 billion. CBRE Group had a net margin of 6.59% and a return on equity of 25.77%. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. As a group, research analysts predict that CBRE Group, Inc. will post 6.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CBRE shares. Evercore ISI lifted their price target on shares of CBRE Group to $96.00 in a report on Monday, August 15th. Raymond James increased their price target on CBRE Group from $110.00 to $113.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 5th. Finally, StockNews.com upgraded CBRE Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $110.20.

Insider Buying and Selling at CBRE Group

In related news, CEO Daniel G. Queenan sold 5,000 shares of CBRE Group stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $83.16, for a total transaction of $415,800.00. Following the transaction, the chief executive officer now directly owns 188,841 shares of the company’s stock, valued at $15,704,017.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

About CBRE Group

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CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.