Bank of Nova Scotia Has $9.06 Million Stock Position in CBRE Group, Inc. $CBRE

Bank of Nova Scotia reduced its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 30.6% in the 1st quarter, HoldingsChannel reports. The firm owned 66,902 shares of the financial services provider’s stock after selling 29,568 shares during the period. Bank of Nova Scotia’s holdings in CBRE Group were worth $9,063,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in CBRE Group by 322.9% during the 4th quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider’s stock valued at $1,903,000 after purchasing an additional 11,065 shares in the last quarter. Woodline Partners LP boosted its stake in CBRE Group by 38.2% in the first quarter. Woodline Partners LP now owns 24,972 shares of the financial services provider’s stock worth $3,266,000 after purchasing an additional 6,908 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in CBRE Group by 67.0% in the first quarter. Geneos Wealth Management Inc. now owns 446 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 179 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of CBRE Group by 41.3% during the second quarter. First Trust Advisors LP now owns 24,792 shares of the financial services provider’s stock worth $3,474,000 after purchasing an additional 7,242 shares during the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of CBRE Group by 54.6% during the second quarter. Walleye Capital LLC now owns 4,895 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 1,728 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

Shares of CBRE stock opened at $139.50 on Monday. CBRE Group, Inc. has a 52-week low of $121.69 and a 52-week high of $174.27. The stock has a market cap of $40.85 billion, a PE ratio of 31.78 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50 day moving average price is $134.36 and its two-hundred day moving average price is $143.85.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.13 by $0.48. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.22 billion. CBRE Group had a net margin of 3.11% and a return on equity of 24.08%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. As a group, analysts forecast that CBRE Group, Inc. will post 7.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group reaffirmed a “buy” rating on shares of CBRE Group in a report on Wednesday, June 17th. Weiss Ratings cut shares of CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Barclays boosted their target price on shares of CBRE Group from $175.00 to $178.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Evercore set a $169.00 target price on shares of CBRE Group in a research report on Tuesday, June 30th. Finally, Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Saturday. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and an average target price of $178.86.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,250 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $130.74, for a total value of $294,165.00. Following the completion of the sale, the chief financial officer owned 110,729 shares in the company, valued at approximately $14,476,709.46. This represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is currently owned by company insiders.

CBRE Group Company Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.