Manning & Napier Advisors LLC Grows Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Manning & Napier Advisors LLC grew its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 4.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,406,699 shares of the financial services provider's stock after buying an additional 66,326 shares during the period. CBRE Group makes up approximately 2.3% of Manning & Napier Advisors LLC's holdings, making the stock its 9th biggest position. Manning & Napier Advisors LLC owned about 0.47% of CBRE Group worth $183,968,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of CBRE Group during the 4th quarter worth about $25,000. Investment Management Corp VA ADV acquired a new position in shares of CBRE Group during the 4th quarter worth about $28,000. Denver PWM LLC acquired a new position in shares of CBRE Group during the 4th quarter worth about $29,000. Colonial Trust Co SC lifted its position in shares of CBRE Group by 183.7% during the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock worth $36,000 after purchasing an additional 180 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of CBRE Group by 1,400.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock worth $37,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CBRE shares. Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. UBS Group cut their price objective on CBRE Group from $146.00 to $130.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Keefe, Bruyette & Woods upped their price target on CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CBRE Group presently has an average rating of "Moderate Buy" and an average target price of $150.33.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the sale, the chief financial officer now directly owns 105,371 shares in the company, valued at $13,603,396.10. This represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad J. Doellinger sold 494 shares of the stock in a transaction that occurred 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 owns 27,945 shares in the company, valued at approximately $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,599 shares of company stock worth $333,600. Company insiders own 0.42% of the company's stock.

CBRE Group Price Performance

Shares of CBRE stock traded up $4.72 during trading hours on Monday, hitting $138.61. The company had a trading volume of 1,205,932 shares, compared to its average volume of 1,809,515. CBRE Group, Inc. has a 12 month low of $85.74 and a 12 month high of $147.75. The firm has a market capitalization of $41.32 billion, a price-to-earnings ratio of 42.39 and a beta of 1.29. The firm's fifty day moving average is $125.76 and its 200 day moving average is $130.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data 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 return on equity of 17.37% and a net margin of 2.74%. The company had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the company posted $0.78 EPS. The company's revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

About CBRE Group

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.