Pictet Asset Management Ltd. Purchases 4,500 Shares of CBRE Group Inc (NYSE:CBRE)

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Pictet Asset Management Ltd. lifted its stake in shares of CBRE Group Inc (NYSE:CBRE) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 159,034 shares of the financial services provider’s stock after purchasing an additional 4,500 shares during the quarter. Pictet Asset Management Ltd.’s holdings in CBRE Group were worth $8,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ropes Wealth Advisors LLC acquired a new stake in shares of CBRE Group during the 3rd quarter worth $28,000. Johnson Financial Group Inc. acquired a new stake in shares of CBRE Group during the 2nd quarter worth $30,000. Fulcrum Capital LLC acquired a new stake in shares of CBRE Group during the 3rd quarter worth $328,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of CBRE Group during the 3rd quarter worth $36,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of CBRE Group by 461.5% during the 3rd quarter. AdvisorNet Financial Inc now owns 730 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 600 shares in the last quarter. 93.00% of the stock is currently owned by institutional investors.

In other news, CEO Michael J. Lafitte sold 26,759 shares of CBRE Group stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.02, for a total transaction of $1,499,039.18. Following the sale, the chief executive officer now directly owns 335,364 shares of the company’s stock, valued at $18,787,091.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brandon B. Boze sold 3,000,000 shares of CBRE Group stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $53.86, for a total value of $161,580,000.00. The disclosure for this sale can be found here. Insiders sold 3,151,074 shares of company stock worth $169,861,123 over the last ninety days. 0.74% of the stock is currently owned by insiders.

Several research firms have recently issued reports on CBRE. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Thursday, November 28th. JPMorgan Chase & Co. began coverage on CBRE Group in a report on Tuesday, October 29th. They set an “overweight” rating on the stock. ValuEngine lowered CBRE Group from a “hold” rating to a “sell” rating in a report on Tuesday. Bank of America began coverage on CBRE Group in a report on Tuesday, November 26th. They set a “buy” rating and a $62.00 target price on the stock. Finally, UBS Group increased their target price on CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.20.

NYSE:CBRE opened at $56.52 on Tuesday. The stock’s 50-day simple moving average is $54.47 and its 200 day simple moving average is $52.06. The firm has a market capitalization of $19.09 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.39 and a beta of 1.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.50. CBRE Group Inc has a twelve month low of $37.45 and a twelve month high of $58.00.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. CBRE Group had a return on equity of 23.24% and a net margin of 4.50%. CBRE Group’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. On average, analysts anticipate that CBRE Group Inc will post 3.74 EPS for the current fiscal year.

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

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