Atlantic Union Bankshares Corp Increases Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Atlantic Union Bankshares Corp boosted its position in CBRE Group, Inc. (NYSE:CBRE) by 27.1% during the third quarter, Holdings Channel.com reports. The fund owned 9,218 shares of the financial services provider’s stock after purchasing an additional 1,967 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in CBRE Group were worth $1,147,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Waterfront Capital Partners LLC acquired a new stake in shares of CBRE Group in the third quarter worth $28,707,000. Vinva Investment Management Ltd raised its position in CBRE Group by 249.3% in the third quarter. Vinva Investment Management Ltd now owns 74,861 shares of the financial services provider’s stock valued at $9,221,000 after purchasing an additional 53,427 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CBRE Group by 0.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,729,313 shares of the financial services provider’s stock worth $339,745,000 after buying an additional 22,189 shares during the period. Public Sector Pension Investment Board grew its stake in shares of CBRE Group by 26.0% in the third quarter. Public Sector Pension Investment Board now owns 52,534 shares of the financial services provider’s stock valued at $6,539,000 after buying an additional 10,825 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CBRE Group by 3.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,806 shares of the financial services provider’s stock valued at $12,050,000 after buying an additional 3,281 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CBRE. Evercore ISI increased their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Citigroup upped their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.00.

Insider Activity

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

CBRE Group Trading Down 0.5 %

Shares of NYSE CBRE opened at $139.99 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average price is $128.80 and its two-hundred day moving average price is $110.31. CBRE Group, Inc. has a 52-week low of $78.18 and a 52-week high of $142.00. The stock has a market capitalization of $42.84 billion, a P/E ratio of 45.01 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. During the same period last year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts anticipate that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

CBRE Group Company 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.