Cetera Investment Advisers raised its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 82.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,666 shares of the financial services provider's stock after acquiring an additional 19,295 shares during the quarter. Cetera Investment Advisers' holdings in CBRE Group were worth $5,580,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of CBRE. Avantax Advisory Services Inc. boosted its stake in CBRE Group by 9.2% during the first quarter. Avantax Advisory Services Inc. now owns 16,048 shares of the financial services provider's stock worth $2,099,000 after acquiring an additional 1,357 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of CBRE Group by 2.4% in the 1st quarter. Gilbert & Cook Inc. now owns 5,580 shares of the financial services provider's stock worth $730,000 after buying an additional 132 shares during the last quarter. AE Wealth Management LLC increased its position in CBRE Group by 2.6% during the 1st quarter. AE Wealth Management LLC now owns 16,254 shares of the financial services provider's stock valued at $2,126,000 after buying an additional 418 shares in the last quarter. City National Bank of Florida MSD boosted its holdings in CBRE Group by 10.7% in the first quarter. City National Bank of Florida MSD now owns 2,094 shares of the financial services provider's stock worth $274,000 after acquiring an additional 202 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in CBRE Group by 5.4% in the first quarter. Venturi Wealth Management LLC now owns 2,946 shares of the financial services provider's stock worth $385,000 after acquiring an additional 152 shares in the last quarter. 98.41% of the stock is owned by institutional investors.
Insider Transactions at CBRE Group
In other news, CFO Emma E. Giamartino sold 1,972 shares of the company's stock in a transaction dated Monday, May 19th. The stock was 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 owned 105,371 shares of the company's stock, valued at $13,603,396.10. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lindsey S. Caplan sold 1,494 shares of CBRE Group stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total value of $232,122.78. Following the sale, the chief accounting officer directly owned 26,717 shares in the company, valued at $4,151,020.29. This trade represents a 5.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,898 shares of company stock worth $1,122,558. Insiders own 0.42% of the company's stock.
Analyst Upgrades and Downgrades
CBRE has been the topic of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday. Evercore ISI increased their price objective on CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $158.00.
Get Our Latest Stock Analysis on CBRE
CBRE Group Stock Performance
Shares of NYSE:CBRE traded up $2.13 during mid-day trading on Monday, reaching $156.07. 1,805,032 shares of the company traded hands, compared to its average volume of 1,847,762. The company's 50 day moving average price is $137.49 and its 200-day moving average price is $133.22. The firm has a market cap of $46.44 billion, a PE ratio of 43.72 and a beta of 1.34. CBRE Group, Inc. has a 52 week low of $105.17 and a 52 week high of $161.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13.
CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The firm had revenue of $9.75 billion during the quarter, compared to analysts' expectations of $9.50 billion. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. On average, equities analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.
CBRE Group Company Profile
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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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