CIBC Asset Management Inc Takes Position in CBRE Group Inc (CBRE)

CIBC Asset Management Inc bought a new position in CBRE Group Inc (NYSE:CBRE) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 29,237 shares of the financial services provider’s stock, valued at approximately $1,289,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CBRE Group during the 3rd quarter valued at approximately $103,000. Quadrant Capital Group LLC purchased a new stake in shares of CBRE Group during the 3rd quarter valued at approximately $128,000. Hanson & Doremus Investment Management purchased a new stake in shares of CBRE Group during the 3rd quarter valued at approximately $155,000. Advisory Services Network LLC purchased a new stake in shares of CBRE Group during the 3rd quarter valued at approximately $162,000. Finally, IFP Advisors Inc purchased a new stake in shares of CBRE Group during the 3rd quarter valued at approximately $176,000. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on CBRE. Bank of America reduced their price target on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. ValuEngine downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Barclays lifted their target price on shares of CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 30th. Finally, Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Monday, August 6th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $52.56.

CBRE Group stock opened at $42.99 on Friday. CBRE Group Inc has a fifty-two week low of $38.05 and a fifty-two week high of $50.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 1.13. The company has a market capitalization of $14.82 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.05 and a beta of 1.76.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, November 1st. The financial services provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. CBRE Group had a net margin of 4.32% and a return on equity of 23.45%. The firm had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.17 billion. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that CBRE Group Inc will post 3.2 EPS for the current year.

In related news, CEO William F. Concannon sold 28,878 shares of CBRE Group stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $47.47, for a total value of $1,370,838.66. Following the completion of the sale, the chief executive officer now owns 204,631 shares in the company, valued at approximately $9,713,833.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

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CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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