Mackenzie Financial Corp Acquires 79,241 Shares of CBRE Group, Inc. (NYSE:CBRE)

Mackenzie Financial Corp grew its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 217.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,618 shares of the financial services provider's stock after acquiring an additional 79,241 shares during the period. Mackenzie Financial Corp's holdings in CBRE Group were worth $15,179,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CBRE. Meridian Wealth Management LLC grew its stake in CBRE Group by 1.4% in the fourth quarter. Meridian Wealth Management LLC now owns 5,192 shares of the financial services provider's stock valued at $682,000 after purchasing an additional 71 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of 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 buying an additional 75 shares in the last quarter. Signaturefd LLC increased its holdings in CBRE Group by 2.0% in the fourth quarter. Signaturefd LLC now owns 5,074 shares of the financial services provider's stock worth $666,000 after buying an additional 99 shares during the last quarter. IFP Advisors Inc increased its holdings in CBRE Group by 9.1% in the fourth quarter. IFP Advisors Inc now owns 1,203 shares of the financial services provider's stock worth $158,000 after buying an additional 100 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its position in CBRE Group by 2.6% during the fourth 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 in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CBRE has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 30th. Morgan Stanley lowered their target price on shares of 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. cut their target price on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group decreased their price target on CBRE Group from $146.00 to $130.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen lowered CBRE Group from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $149.22.

Insider Transactions at CBRE Group

In related news, insider Chad J. Doellinger sold 494 shares of CBRE Group stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $126.05, for a total transaction of $62,268.70. Following the sale, the insider now directly owns 27,945 shares of the company's stock, valued at $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,396 shares of company stock worth $685,649. Insiders own 0.42% of the company's stock.

CBRE Group Stock Performance

CBRE stock traded up $0.13 during mid-day trading on Friday, reaching $124.80. 5,352,242 shares of the stock traded hands, compared to its average volume of 1,838,839. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average of $123.48 and a two-hundred day moving average of $131.41. The firm has a market capitalization of $37.20 billion, a PE ratio of 39.75 and a beta of 1.30. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its 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. The firm had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The firm's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, equities analysts predict that CBRE Group, Inc. will post 5.99 EPS 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.