OLD National Bancorp IN Takes Position in CBRE Group, Inc. (NYSE:CBRE)

OLD National Bancorp IN acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,850 shares of the financial services provider’s stock, valued at approximately $230,000.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in CBRE Group by 500.1% during the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after buying an additional 23,290 shares during the period. Natixis raised its holdings in CBRE Group by 69.0% during the 1st quarter. Natixis now owns 55,018 shares of the financial services provider’s stock worth $5,350,000 after buying an additional 22,464 shares during the period. Quantbot Technologies LP acquired a new stake in CBRE Group during the 1st quarter worth approximately $1,118,000. Nordea Investment Management AB raised its holdings in CBRE Group by 1,730.4% during the 1st quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider’s stock worth $38,550,000 after buying an additional 372,870 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in CBRE Group by 14.1% during the 1st quarter. BNP Paribas Financial Markets now owns 486,795 shares of the financial services provider’s stock worth $47,336,000 after buying an additional 60,050 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBRE has been the topic of several research analyst reports. Evercore ISI raised their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group lowered their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley initiated coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.83.

Insider Activity at CBRE Group

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of CBRE Group stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,232 shares of company stock valued at $3,058,787. 0.54% of the stock is owned by corporate insiders.

CBRE Group Price Performance

NYSE:CBRE opened at $123.12 on Thursday. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $126.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $118.97 and a 200 day simple moving average of $101.77. The stock has a market capitalization of $37.78 billion, a PE ratio of 38.36 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period last year, the business earned $0.82 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that CBRE Group, Inc. will post 4.81 EPS 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.