Massachusetts Financial Services Co. MA Buys 2,680,337 Shares of CBRE Group, Inc. (NYSE:CBRE)

Massachusetts Financial Services Co. MA grew its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 217.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,913,299 shares of the financial services provider's stock after buying an additional 2,680,337 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.31% of CBRE Group worth $511,781,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of CBRE. Investment Management Corp VA ADV acquired a new stake in CBRE Group in the 4th quarter valued at $28,000. Hughes Financial Services LLC acquired a new stake in shares of CBRE Group in the 1st quarter valued at $28,000. Golden State Wealth Management LLC grew its holdings in shares of CBRE Group by 687.1% in the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after purchasing an additional 213 shares during the last quarter. Colonial Trust Co SC increased 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in CBRE Group by 1,400.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock valued at $37,000 after buying an additional 266 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CBRE shares. Evercore ISI boosted their price objective on CBRE Group from $143.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered CBRE Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a report on Wednesday, April 30th. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. dropped their price target 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. Three investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $152.78.

CBRE Group Stock Down 2.9%

Shares of CBRE Group stock traded down $4.06 during trading on Tuesday, reaching $136.96. The stock had a trading volume of 1,994,892 shares, compared to its average volume of 1,816,542. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $40.83 billion, a price-to-earnings ratio of 41.88 and a beta of 1.30. The stock has a fifty day moving average price of $132.08 and a two-hundred day moving average price of $131.59. CBRE Group, Inc. has a 52 week low of $96.14 and a 52 week high of $147.75.

CBRE Group (NYSE:CBRE - Get Free Report) last issued 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 net margin of 2.74% and a return on equity of 17.37%. The firm had revenue of $8.91 billion for the quarter, compared to analysts' expectations of $8.73 billion. During the same period in the previous year, the firm posted $0.78 EPS. 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 EPS for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the business's 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 transaction, the chief financial officer owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad J. Doellinger sold 494 shares of CBRE Group 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 transaction, the insider owned 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. Insiders sold a total of 6,031 shares of company stock worth $814,080 over the last quarter. 0.42% of the stock is currently owned by insiders.

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.