Wealth Enhancement Advisory Services LLC Grows Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 1,079.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 281,211 shares of the financial services provider's stock after buying an additional 257,366 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.09% of CBRE Group worth $36,777,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in CBRE Group in the fourth quarter worth approximately $36,643,000. USA Financial Formulas bought a new position in CBRE Group in the first quarter worth approximately $1,101,000. LPL Financial LLC grew its stake in 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 purchasing an additional 28,547 shares in the last quarter. Allworth Financial LP grew its stake in 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. Finally, Brown Brothers Harriman & Co. grew its stake in CBRE Group by 11.9% in the fourth 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 in the last quarter. Institutional investors own 98.41% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CBRE. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. UBS Group dropped their target price on CBRE Group from $146.00 to $130.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a research report on Wednesday, April 30th. 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 company. According to data from MarketBeat.com, CBRE Group currently has an average rating of "Moderate Buy" and an average target price of $150.33.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,972 shares of the firm's stock in a transaction on 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 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 legal filing with the SEC, which is available at this link. Also, insider Chad J. Doellinger sold 494 shares of CBRE Group stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $126.05, for a total value of $62,268.70. Following the transaction, the insider now owns 27,945 shares of the company's stock, valued at $3,522,467.25. The trade was a 1.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,599 shares of company stock worth $333,600. Insiders own 0.42% of the company's stock.

CBRE Group Stock Up 0.3%

Shares of CBRE traded up $0.38 during midday trading on Friday, hitting $133.85. 2,061,873 shares of the company's stock traded hands, compared to its average volume of 1,521,086. CBRE Group, Inc. has a 1 year low of $85.74 and a 1 year high of $147.75. The firm's fifty day moving average is $125.76 and its 200-day moving average is $130.89. 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 stock has a market capitalization of $39.90 billion, a price-to-earnings ratio of 25.80 and a beta of 1.29.

CBRE Group (NYSE:CBRE - Get Free Report) last issued 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 return on equity of 17.37% and a net margin of 2.74%. The firm had revenue of $8.91 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

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.