CBRE Group, Inc. (NYSE:CBRE) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its holdings in CBRE Group, Inc. (NYSE:CBRE) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 621,477 shares of the financial services provider’s stock after buying an additional 62,305 shares during the period. Clearbridge Investments LLC’s holdings in CBRE Group were worth $57,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its position in shares of CBRE Group by 190.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 497 shares of the financial services provider’s stock worth $37,000 after buying an additional 326 shares during the period. Headinvest LLC purchased a new position in shares of CBRE Group in the 3rd quarter worth about $44,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of CBRE Group in the 4th quarter valued at about $45,000. Bruce G. Allen Investments LLC acquired a new position in shares of CBRE Group in the 4th quarter valued at about $48,000. Finally, Planned Solutions Inc. purchased a new stake in shares of CBRE Group during the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $89.61 on Thursday. The firm has a market cap of $27.49 billion, a PE ratio of 27.92 and a beta of 1.44. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $98.65. The firm’s 50-day simple moving average is $90.86 and its 200-day simple moving average is $87.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.15.

CBRE Group (NYSE:CBRE) last issued its earnings results on Friday, May 3rd. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. The company had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same quarter last year, the firm earned $0.92 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that CBRE Group, Inc. will post 4.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CBRE shares. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price target on the stock. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Raymond James increased their price target on CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. Finally, Evercore ISI upped their target price on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CBRE Group presently has an average rating of “Hold” and an average price target of $99.50.

Insider Buying and Selling

In other news, CFO Emma E. Giamartino sold 2,667 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $93.53, for a total transaction of $249,444.51. Following the sale, the chief financial officer now directly owns 72,350 shares in the company, valued at approximately $6,766,895.50. The sale 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 company insiders.

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.