New Age Alpha Advisors LLC Invests $2.82 Million in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• New Age Alpha Advisors LLC invested $2.82 million to acquire 21,563 shares of CBRE Group, reflecting a growing interest in the financial services provider among hedge funds.
• CBRE Group's stock is currently trading at $155.50, with a market cap of $46.27 billion and recent earnings showing an EPS of $1.19, exceeding estimates.
• Several analysts have raised their target prices for CBRE Group, with recommendations ranging from "market perform" to "outperform," indicating a generally positive outlook for the stock's future performance.

New Age Alpha Advisors LLC acquired a new stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 21,563 shares of the financial services provider's stock, valued at approximately $2,820,000.

Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in CBRE Group by 4.8% during the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock valued at $1,042,317,000 after purchasing an additional 368,214 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in CBRE Group by 217.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock valued at $511,781,000 after purchasing an additional 2,680,337 shares during the last quarter. Northern Trust Corp lifted its position in CBRE Group by 12.6% during the fourth quarter. Northern Trust Corp now owns 3,789,513 shares of the financial services provider's stock valued at $497,525,000 after purchasing an additional 424,663 shares during the last quarter. Earnest Partners LLC lifted its position in CBRE Group by 1.4% during the fourth quarter. Earnest Partners LLC now owns 3,696,955 shares of the financial services provider's stock valued at $485,373,000 after purchasing an additional 49,862 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CBRE Group by 10.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,025,256 shares of the financial services provider's stock valued at $397,186,000 after purchasing an additional 295,943 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

CBRE Group Trading Up 0.7%

Shares of NYSE CBRE traded up $1.14 during mid-day trading on Friday, hitting $155.50. The stock had a trading volume of 990,315 shares, compared to its average volume of 1,746,201. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group, Inc. has a 1 year low of $107.54 and a 1 year high of $161.03. The business has a 50 day moving average price of $140.69 and a two-hundred day moving average price of $133.89. The firm has a market cap of $46.27 billion, a P/E ratio of 43.56 and a beta of 1.34.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Ratings Changes

CBRE has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Evercore ISI lifted their target price on shares of CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Morgan Stanley restated an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. UBS Group boosted their price objective on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, Raymond James Financial boosted their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.00.

Insiders Place Their Bets

In other CBRE Group news, CAO Lindsey S. Caplan sold 1,935 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $270,900.00. Following the transaction, the chief accounting officer directly owned 20,131 shares of the company's stock, valued at approximately $2,818,340. The trade was a 8.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of the business's stock in a transaction on 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 directly owned 105,371 shares in the company, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. 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.

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.