Assenagon Asset Management S.A. Has $137.84 Million Stock Holdings in CBRE Group, Inc. $CBRE

Assenagon Asset Management S.A. decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 29.2% in the third quarter, Holdings Channel reports. The firm owned 874,837 shares of the financial services provider’s stock after selling 360,536 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CBRE Group were worth $137,839,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of CBRE Group during the 2nd quarter worth approximately $544,554,000. Qube Research & Technologies Ltd raised its stake in CBRE Group by 210.6% during the second quarter. Qube Research & Technologies Ltd now owns 1,083,413 shares of the financial services provider’s stock worth $151,808,000 after acquiring an additional 734,563 shares in the last quarter. Cornerstone Investment Partners LLC bought a new position in shares of CBRE Group during the second quarter valued at $48,383,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of CBRE Group by 9.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,628,945 shares of the financial services provider’s stock valued at $513,931,000 after acquiring an additional 319,115 shares during the period. Finally, Atalanta Sosnoff Capital LLC acquired a new stake in shares of CBRE Group in the 1st quarter valued at $40,297,000. 98.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CBRE. Keefe, Bruyette & Woods upgraded shares of CBRE Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $168.00 to $185.00 in a research report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CBRE Group in a research note on Wednesday, October 8th. Barclays initiated coverage on shares of CBRE Group in a research note on Tuesday, December 2nd. They issued an “overweight” rating and a $190.00 target price for the company. Morgan Stanley increased their price target on CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on CBRE Group from $143.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $177.25.

CBRE Group Stock Performance

CBRE stock opened at $160.93 on Wednesday. The stock has a market capitalization of $47.89 billion, a PE ratio of 39.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50 day moving average price of $156.47 and a 200 day moving average price of $152.09. CBRE Group, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $171.00.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 23rd. The financial services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.46 by $0.15. The company had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.11 billion. CBRE Group had a return on equity of 20.55% and a net margin of 3.12%.The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $1.20 EPS. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. Analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current year.

About CBRE Group

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.