Independent Advisor Alliance raised its position in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) by 34.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,217 shares of the financial services provider’s stock after buying an additional 574 shares during the quarter. Independent Advisor Alliance’s holdings in CBRE Group were worth $291,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Algert Global LLC purchased a new stake in shares of CBRE Group during the third quarter valued at about $1,829,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of CBRE Group during the fourth quarter valued at about $1,518,000. Merit Financial Group LLC purchased a new position in shares of CBRE Group in the 4th quarter valued at approximately $256,000. Fulton Bank N.A. raised its position in shares of CBRE Group by 342.0% in the 4th quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after purchasing an additional 19,227 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in shares of CBRE Group by 17,304.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 3,807 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at CBRE Group
In related news, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total value of $100,669.07. Following the sale, the insider now owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. This trade represents a 2.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Morgan Stanley increased their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Citigroup increased their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.
View Our Latest Research Report on CBRE
CBRE Group Price Performance
Shares of NYSE CBRE opened at $126.28 on Wednesday. The stock has a market capitalization of $37.89 billion, a price-to-earnings ratio of 40.22 and a beta of 1.42. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The firm’s 50 day simple moving average is $137.24 and its 200-day simple moving average is $131.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13.
CBRE Group (NYSE:CBRE – Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.
CBRE Group Company Profile
(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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