Westpac Banking Corp Boosts Holdings in CBRE Group, Inc. (NYSE:CBRE)

Westpac Banking Corp increased its holdings in CBRE Group, Inc. (NYSE:CBREFree Report) by 6.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,847 shares of the financial services provider’s stock after purchasing an additional 2,444 shares during the period. Westpac Banking Corp’s holdings in CBRE Group were worth $3,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Harris Associates L P lifted its stake in shares of CBRE Group by 4.0% in the 3rd quarter. Harris Associates L P now owns 15,321,916 shares of the financial services provider’s stock valued at $1,131,677,000 after acquiring an additional 586,661 shares during the last quarter. FMR LLC boosted its stake in shares of CBRE Group by 3.1% during the third quarter. FMR LLC now owns 9,465,982 shares of the financial services provider’s stock valued at $699,157,000 after purchasing an additional 288,287 shares during the period. Invesco Ltd. increased its stake in shares of CBRE Group by 0.4% in the third quarter. Invesco Ltd. now owns 7,083,778 shares of the financial services provider’s stock worth $523,208,000 after buying an additional 28,316 shares during the period. Principal Financial Group Inc. boosted its position in CBRE Group by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 6,867,581 shares of the financial services provider’s stock valued at $639,303,000 after buying an additional 46,763 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in CBRE Group by 0.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,868,834 shares of the financial services provider’s stock worth $546,330,000 after acquiring an additional 44,648 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

Insider Transactions at CBRE Group

In other news, CEO John E. Durburg sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the transaction, the chief executive officer now owns 207,856 shares of the company’s stock, valued at $19,164,323.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John E. Durburg sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the sale, the chief executive officer now directly owns 207,856 shares in the company, valued at approximately $19,164,323.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the completion of the transaction, the chief executive officer now directly owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The disclosure for this sale can be found here. Insiders sold 39,592 shares of company stock worth $3,675,752 in the last three months. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Stock Up 3.0 %

CBRE traded up $2.70 during midday trading on Wednesday, reaching $91.42. The company’s stock had a trading volume of 849,434 shares, compared to its average volume of 1,643,228. The stock’s 50-day moving average is $91.16 and its 200-day moving average is $87.04. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $98.65. The firm has a market capitalization of $28.05 billion, a price-to-earnings ratio of 28.33 and a beta of 1.44. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBREGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.69 by $0.09. The company had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $7.94 billion. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. CBRE Group’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. As a group, research analysts expect that CBRE Group, Inc. will post 4.47 EPS for the current year.

Analyst Ratings Changes

CBRE has been the subject of a number of analyst reports. Evercore ISI increased their target price on shares of CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a report on Tuesday, April 2nd. Jefferies Financial Group initiated coverage on CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 target price on the stock. Raymond James raised their price target on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Finally, TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group currently has a consensus rating of “Hold” and an average price target of $99.50.

View Our Latest Research Report on CBRE Group

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.

Further Reading

Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBREFree Report).

Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.