CBRE Group, Inc. $CBRE Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in CBRE Group, Inc. (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 71,699 shares of the financial services provider’s stock, valued at approximately $9,211,000.

Other large investors have also recently modified their holdings of the company. Ascentis Independent Advisors purchased a new stake in CBRE Group during the 1st quarter valued at about $30,000. Cassaday & Co Wealth Management LLC bought a new position in CBRE Group during the 1st quarter worth approximately $33,000. Brown Lisle Cummings Inc. increased its stake in CBRE Group by 511.9% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 257 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 215 shares during the period. Sound Income Strategies LLC increased its stake in CBRE Group by 5,180.0% in the 1st quarter. Sound Income Strategies LLC now owns 264 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 259 shares during the period. Finally, Trust Co. of Vermont purchased a new position in CBRE Group in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CBRE shares. Wall Street Zen cut shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Jefferies Financial Group lowered their price target on shares of CBRE Group from $180.00 to $164.00 in a report on Monday, October 12th. JPMorgan Chase & Co. dropped their price target on shares of CBRE Group from $190.00 to $186.00 in a research report on Tuesday, October 13th. Keefe, Bruyette & Woods cut their price target on shares of CBRE Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Finally, Evercore decreased their price objective on shares of CBRE Group from $175.00 to $166.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $182.78.

Insider Activity

In other news, insider Chad J. Doellinger sold 228 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $33,810.12. Following the completion of the transaction, the insider owned 41,778 shares of the company’s stock, valued at approximately $6,195,259.62. This represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Emma Giamartino sold 2,250 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $333,652.50. Following the completion of the transaction, the chief financial officer directly owned 108,479 shares of the company’s stock, valued at $16,086,350.91. This represents a 2.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by insiders.

CBRE Group Stock Performance

NYSE:CBRE opened at $141.27 on Thursday. The stock has a market cap of $40.71 billion, a P/E ratio of 17.05 and a beta of 1.24. The firm’s fifty day simple moving average is $135.54 and its 200 day simple moving average is $141.51. CBRE Group, Inc. has a twelve month low of $121.44 and a twelve month high of $174.27. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.96 by $0.09. CBRE Group had a net margin of 3.08% and a return on equity of 26.31%. The business had revenue of $11.52 billion during the quarter, compared to analyst estimates of $11.81 billion. During the same period in the prior year, the business earned $1.61 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, research analysts predict that CBRE Group, Inc. will post 7.76 EPS for the current year.

About CBRE Group

CBRE Group, Inc (NYSE:CBRE) is a global commercial real estate services and investment firm. The company provides advisory, transaction, property management, facilities management, project management, valuation, and consulting services to corporate, institutional, and other real estate clients.

Its businesses support the acquisition, development, leasing, operation, and disposition of commercial properties across sectors such as office, industrial and logistics, retail, multifamily, hospitality, and data centers.