Ritholtz Wealth Management boosted its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 69.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,024 shares of the financial services provider's stock after purchasing an additional 5,345 shares during the quarter. Ritholtz Wealth Management's holdings in CBRE Group were worth $1,703,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CBRE. Raymond James Financial Inc. acquired a new position in shares of CBRE Group during the fourth quarter valued at $36,643,000. LPL Financial LLC boosted its holdings in shares of CBRE Group by 69.1% in the fourth quarter. LPL Financial LLC now owns 69,863 shares of the financial services provider's stock worth $9,172,000 after buying an additional 28,547 shares during the period. Allworth Financial LP lifted its position in shares of CBRE Group by 47.2% in the fourth quarter. Allworth Financial LP now owns 636 shares of the financial services provider's stock worth $89,000 after purchasing an additional 204 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of CBRE Group during the first quarter worth $1,101,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of CBRE Group by 11.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 487,133 shares of the financial services provider's stock worth $63,956,000 after purchasing an additional 51,964 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on CBRE shares. Morgan Stanley restated an "overweight" rating and issued a $170.00 target price (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. JPMorgan Chase & Co. decreased their price objective on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. UBS Group lowered their target price on shares of CBRE Group from $146.00 to $130.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of CBRE Group from a "buy" rating to a "hold" rating in a research report on Saturday. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $150.33.
Get Our Latest Report on CBRE Group
Insider Activity at CBRE Group
In related news, CFO Emma E. Giamartino sold 1,972 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer now owns 105,371 shares in the company, valued at $13,603,396.10. This trade represents a 1.84% decrease in their position. 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 the business's stock in a transaction that occurred on 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 in the company, valued at $3,522,467.25. The trade was a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,599 shares of company stock valued at $333,600 in the last quarter. Insiders own 0.42% of the company's stock.
CBRE Group Stock Performance
CBRE traded down $1.92 on Tuesday, reaching $132.18. The company had a trading volume of 1,238,721 shares, compared to its average volume of 1,912,267. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. The stock has a market cap of $39.40 billion, a P/E ratio of 42.10 and a beta of 1.29. The company's fifty day moving average is $124.60 and its 200 day moving average is $130.97. CBRE Group, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $147.75.
CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data 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 2.71% and a return on equity of 16.96%. The business had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The company's revenue was up 12.3% on a year-over-year basis. As a group, analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.
About CBRE Group
(
Free Report)
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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