Sovereign s Capital Management LLC bought a new position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,417 shares of the financial services provider's stock, valued at approximately $3,468,000. CBRE Group makes up about 2.2% of Sovereign s Capital Management LLC's investment portfolio, making the stock its 17th largest holding.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meridian Wealth Management LLC increased its position in shares of CBRE Group by 1.4% during the fourth quarter. Meridian Wealth Management LLC now owns 5,192 shares of the financial services provider's stock worth $682,000 after purchasing an additional 71 shares in the last quarter. Gilbert & Cook Inc. increased its position in CBRE Group by 1.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,448 shares of the financial services provider's stock valued at $715,000 after acquiring an additional 75 shares during the period. Signaturefd LLC increased its position in CBRE Group by 2.0% in the 4th quarter. Signaturefd LLC now owns 5,074 shares of the financial services provider's stock valued at $666,000 after acquiring an additional 99 shares during the period. IFP Advisors Inc increased its position in CBRE Group by 9.1% in the 4th quarter. IFP Advisors Inc now owns 1,203 shares of the financial services provider's stock valued at $158,000 after acquiring an additional 100 shares during the period. Finally, Fidelis Capital Partners LLC increased its position in CBRE Group by 2.6% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,098 shares of the financial services provider's stock valued at $584,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 98.41% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a research report on Wednesday, April 30th. Morgan Stanley dropped their price target on CBRE Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Raymond James cut CBRE Group from a "strong-buy" rating to an "outperform" rating and dropped their price target for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Finally, Wall Street Zen lowered CBRE Group from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $149.22.
View Our Latest Stock Report on CBRE
CBRE Group Price Performance
Shares of NYSE:CBRE traded down $0.63 during trading on Thursday, hitting $120.24. 2,768,533 shares of the stock were exchanged, compared to its average volume of 1,821,117. The company has a fifty day moving average price of $124.52 and a two-hundred day moving average price of $131.95. The company has a market cap of $35.84 billion, a PE ratio of 38.29 and a beta of 1.30. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 12-month low of $84.24 and a 12-month high of $147.75.
CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The business had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The company's quarterly revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current year.
Insider Activity
In other news, insider Chad J. Doellinger sold 494 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $126.05, for a total value of $62,268.70. Following the sale, the insider now directly owns 27,945 shares in the company, valued at $3,522,467.25. This represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer now owns 105,371 shares of the company's stock, valued at $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,396 shares of company stock worth $685,649 over the last three months. 0.42% of the stock is currently owned by corporate insiders.
About CBRE Group
(
Free Report)
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.
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