Harbor Capital Advisors Inc. Purchases New Shares in CBRE Group, Inc. (NYSE:CBRE)

Harbor Capital Advisors Inc. bought a new stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,215 shares of the financial services provider's stock, valued at approximately $813,000.

Other hedge funds also recently modified their holdings of the company. Pallas Capital Advisors LLC acquired a new stake in CBRE Group during the 1st quarter worth approximately $559,000. OLD National Bancorp IN raised its stake in CBRE Group by 29.4% in the 1st quarter. OLD National Bancorp IN now owns 2,270 shares of the financial services provider's stock worth $297,000 after purchasing an additional 516 shares in the last quarter. Wedmont Private Capital boosted its holdings in CBRE Group by 7.6% in the 1st quarter. Wedmont Private Capital now owns 4,031 shares of the financial services provider's stock valued at $527,000 after purchasing an additional 284 shares during the period. CMC Financial Group bought a new stake in shares of CBRE Group during the 1st quarter worth approximately $282,000. Finally, Gateway Investment Advisers LLC bought a new position in CBRE Group in the 1st quarter valued at approximately $625,000. Institutional investors own 98.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a report on Wednesday, April 30th. Wall Street Zen cut shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley upped their target price on shares of CBRE Group from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, UBS Group dropped their price target on shares of CBRE Group from $146.00 to $130.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned 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 $150.33.

Insider Buying and Selling

In other news, CFO Emma E. Giamartino sold 1,972 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the transaction, the chief financial officer now owns 105,371 shares in the company, 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 through this hyperlink. Also, insider Chad J. Doellinger sold 494 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $126.05, for a total transaction of $62,268.70. Following the transaction, the insider now directly owns 27,945 shares of the company's stock, valued at $3,522,467.25. This represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,599 shares of company stock worth $584,980. Insiders own 0.42% of the company's stock.

CBRE Group Stock Performance

Shares of CBRE stock traded down $2.65 during trading hours on Friday, reaching $132.87. The company had a trading volume of 1,097,705 shares, compared to its average volume of 1,825,375. The business has a fifty day moving average price of $124.20 and a 200-day moving average price of $131.08. CBRE Group, Inc. has a one year low of $85.74 and a one year high of $147.75. The firm has a market cap of $39.61 billion, a PE ratio of 42.32 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The business had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The company's revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

CBRE Group 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.