3Chopt Investment Partners LLC Takes Position in CBRE Group, Inc. (NYSE:CBRE)

3Chopt Investment Partners LLC bought a new stake in CBRE Group, Inc. (NYSE:CBRE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,473 shares of the financial services provider’s stock, valued at approximately $844,000.

Several other large investors also recently bought and sold shares of CBRE. Wellington Management Group LLP grew its holdings in CBRE Group by 164.1% in the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after purchasing an additional 2,799,097 shares during the last quarter. Swedbank AB purchased a new stake in shares of CBRE Group in the first quarter valued at $162,576,000. Harris Associates L P lifted its position in shares of CBRE Group by 4.5% in the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after acquiring an additional 683,225 shares in the last quarter. Eminence Capital LP lifted its position in shares of CBRE Group by 42.6% in the second quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after acquiring an additional 453,406 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of CBRE Group in the second quarter valued at $36,820,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $124.50 on Tuesday. The firm has a market capitalization of $38.20 billion, a PE ratio of 38.78 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $114.11 and a two-hundred day moving average of $98.58. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $124.84.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that CBRE Group, Inc. will post 4.81 earnings per share for the current year.

Insider Activity

In other news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the sale, the chief operating officer now owns 69,226 shares in the company, valued at $7,538,019.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,232 shares of company stock worth $3,058,787. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CBRE shares. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Raymond James increased their target price on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. UBS Group reduced their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Morgan Stanley started coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.33.

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.