Patton Albertson Miller Group LLC Invests $3.47 Million in CBRE Group, Inc. (NYSE:CBRE)

Patton Albertson Miller Group LLC purchased a new position in CBRE Group, Inc. (NYSE:CBRE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 26,527 shares of the financial services provider's stock, valued at approximately $3,469,000.

A number of other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of 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 acquiring an additional 368,214 shares during the period. Geode Capital Management LLC raised its holdings in shares of CBRE Group by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider's stock valued at $1,035,229,000 after acquiring an additional 245,821 shares during the period. Franklin Resources Inc. raised its holdings in shares of CBRE Group by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider's stock valued at $538,390,000 after acquiring an additional 605,403 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of CBRE Group by 290.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock valued at $531,736,000 after acquiring an additional 3,011,566 shares during the period. Finally, Norges Bank acquired a new stake in shares of CBRE Group during the fourth quarter valued at approximately $514,609,000. 98.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price objective (up previously from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Evercore ISI upped their price objective on shares of CBRE Group from $143.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. UBS Group upped their price objective on shares of CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Three 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $152.78.

CBRE Group Price Performance

NYSE:CBRE opened at $138.82 on Friday. The stock has a market cap of $41.38 billion, a P/E ratio of 42.45 and a beta of 1.30. CBRE Group, Inc. has a one year low of $96.38 and a one year high of $147.75. The company has a fifty day moving average price of $132.87 and a 200 day moving average price of $131.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $8.73 billion. During the same period in the prior year, the company earned $0.78 EPS. The business's quarterly revenue was up 12.3% compared to the same quarter last year. Analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Chad J. Doellinger sold 494 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total value of $62,268.70. Following the sale, the insider directly owned 27,945 shares in the company, valued at $3,522,467.25. This trade represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lindsey S. Caplan sold 1,497 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $209,580.00. Following the completion of the sale, the chief accounting officer owned 28,211 shares in the company, valued at $3,949,540. This represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,031 shares of company stock valued at $814,080 in the last 90 days. 0.42% of the stock is currently owned by insiders.

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.

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