Pictet Asset Management Holding SA Increases Stake in CBRE Group, Inc. (NYSE:CBRE)

Pictet Asset Management Holding SA increased its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 190,941 shares of the financial services provider’s stock after purchasing an additional 15,924 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of CBRE Group worth $25,069,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CBRE. Norges Bank bought a new stake in shares of CBRE Group during the fourth quarter worth $514,609,000. Artisan Partners Limited Partnership lifted its holdings in CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after buying an additional 3,011,566 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in CBRE Group in the 4th quarter valued at about $190,695,000. Manning & Napier Advisors LLC bought a new position in CBRE Group in the 4th quarter worth about $175,978,000. Finally, Los Angeles Capital Management LLC increased its position in shares of CBRE Group by 1,499.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock worth $139,162,000 after acquiring an additional 993,687 shares during the period. 98.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CBRE has been the topic of several research analyst reports. Evercore ISI dropped their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group started coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price target on the stock. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. StockNews.com downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.89.

CBRE Group Price Performance

Shares of CBRE opened at $130.86 on Tuesday. The company has a 50 day moving average of $137.41 and a two-hundred day moving average of $132.45. The company has a market cap of $39.26 billion, a price-to-earnings ratio of 41.68 and a beta of 1.42. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a twelve month low of $84.24 and a twelve month high of $147.75.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. As a group, analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Activity at CBRE Group

In other news, insider Chad J. Doellinger sold 797 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total value of $100,669.07. Following the completion of the transaction, the insider now directly owns 28,735 shares in the company, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the completion of the sale, the chief financial officer now owns 107,343 shares in the company, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by 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.