TCTC Holdings LLC Purchases 61,159 Shares of CBRE Group, Inc. (NYSE:CBRE)

Key Points

• TCTC Holdings LLC increased its stake in CBRE Group, Inc. by 105.9% during the first quarter, acquiring 61,159 additional shares, bringing its total ownership to 118,929 shares valued at approximately $15.55 million.
• Insider trading activity showed that both the Chief Accounting Officer and Chief Financial Officer sold shares, resulting in a combined total of 6,031 shares sold for $814,080 over the last three months.
• Equities research analysts have mixed ratings on CBRE Group; with three analysts recommending a hold, seven a buy, and one a strong buy, leading to an average target price of $156.11.

TCTC Holdings LLC raised its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 105.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,929 shares of the financial services provider's stock after acquiring an additional 61,159 shares during the quarter. TCTC Holdings LLC's holdings in CBRE Group were worth $15,554,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CBRE. Brighton Jones LLC grew its stake in shares of CBRE Group by 322.9% in the fourth quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider's stock valued at $1,903,000 after buying an additional 11,065 shares in the last quarter. LPL Financial LLC grew its stake 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 valued at $9,172,000 after buying an additional 28,547 shares in the last quarter. Blair William & Co. IL grew its stake in shares of CBRE Group by 126.7% in the fourth quarter. Blair William & Co. IL now owns 20,478 shares of the financial services provider's stock valued at $2,689,000 after buying an additional 11,443 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of CBRE Group by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 93,315 shares of the financial services provider's stock valued at $12,251,000 after buying an additional 359 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of CBRE Group by 9.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 190,941 shares of the financial services provider's stock valued at $25,069,000 after buying an additional 15,924 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CBRE has been the subject of several analyst reports. UBS Group raised their target price 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. Keefe, Bruyette & Woods raised their price target on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Wall Street Zen downgraded CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, 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. 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 stock. According to MarketBeat.com, CBRE Group presently has an average rating of "Moderate Buy" and a consensus target price of $158.00.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 1,972 shares of the business's stock in a transaction dated Monday, May 19th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,494 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total value of $232,122.78. Following the completion of the transaction, the chief accounting officer directly owned 26,717 shares of the company's stock, valued at approximately $4,151,020.29. This trade represents a 5.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,031 shares of company stock valued at $1,139,304 in the last three months. Insiders own 0.42% of the company's stock.

CBRE Group Stock Performance

Shares of CBRE traded down $1.85 during midday trading on Friday, reaching $153.90. 1,083,274 shares of the stock were exchanged, compared to its average volume of 1,842,609. CBRE Group, Inc. has a twelve month low of $105.17 and a twelve month high of $161.03. The company has a quick ratio of 1.00, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. The company has a market cap of $45.79 billion, a P/E ratio of 43.18 and a beta of 1.30. The stock's 50 day simple moving average is $136.84 and its 200 day simple moving average is $133.02.

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

CBRE Group Company 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.