Metropolitan Life Insurance Co NY boosted its position in shares of CBRE Group Inc (NYSE:CBRE) by 3.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,030 shares of the financial services provider’s stock after buying an additional 2,119 shares during the period. Metropolitan Life Insurance Co NY’s holdings in CBRE Group were worth $3,023,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of CBRE. Man Group plc boosted its position in shares of CBRE Group by 391.2% during the third quarter. Man Group plc now owns 115,546 shares of the financial services provider’s stock worth $6,125,000 after buying an additional 92,024 shares during the period. Squarepoint Ops LLC purchased a new position in CBRE Group in the third quarter valued at $2,571,000. Voloridge Investment Management LLC purchased a new position in CBRE Group in the third quarter valued at $8,788,000. Cleararc Capital Inc. boosted its holdings in CBRE Group by 7.6% in the third quarter. Cleararc Capital Inc. now owns 5,072 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 359 shares during the period. Finally, National Pension Service boosted its holdings in CBRE Group by 5.3% in the third quarter. National Pension Service now owns 461,636 shares of the financial services provider’s stock valued at $24,471,000 after purchasing an additional 23,075 shares during the period. Institutional investors own 93.00% of the company’s stock.
CBRE Group stock opened at $57.02 on Monday. CBRE Group Inc has a 1-year low of $37.45 and a 1-year high of $58.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $19.09 billion, a PE ratio of 17.38, a P/E/G ratio of 1.39 and a beta of 1.68. The stock’s fifty day moving average is $54.15 and its two-hundred day moving average is $51.93.
In other news, insider James R. Groch sold 75,000 shares of CBRE Group stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $54.10, for a total transaction of $4,057,500.00. Following the sale, the insider now owns 318,000 shares in the company, valued at $17,203,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Concannon sold 1,047 shares of CBRE Group stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.01, for a total value of $57,595.47. Following the sale, the chief executive officer now owns 277,755 shares in the company, valued at approximately $15,279,302.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,151,074 shares of company stock worth $169,861,123. 0.74% of the stock is owned by insiders.
A number of analysts have weighed in on the company. Bank of America assumed coverage on CBRE Group in a research note on Tuesday, November 26th. They issued a “buy” rating and a $62.00 price target on the stock. ValuEngine upgraded CBRE Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Thursday. UBS Group raised their price target on CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. assumed coverage on CBRE Group in a research note on Tuesday, October 29th. They issued an “overweight” rating on the stock. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. CBRE Group presently has an average rating of “Buy” and an average price target of $60.20.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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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