Procyon Advisors LLC Has $1.53 Million Position in CBRE Group, Inc. (NYSE:CBRE)

Procyon Advisors LLC lifted its stake in CBRE Group, Inc. (NYSE:CBRE) by 14.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,676 shares of the financial services provider’s stock after acquiring an additional 1,473 shares during the quarter. Procyon Advisors LLC’s holdings in CBRE Group were worth $1,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in CBRE Group in the fourth quarter valued at about $36,643,000. LPL Financial LLC lifted its holdings in shares of CBRE Group by 69.1% during the 4th quarter. LPL Financial LLC now owns 69,863 shares of the financial services provider’s stock valued at $9,172,000 after buying an additional 28,547 shares during the last quarter. Allworth Financial LP grew its stake in shares of CBRE Group by 47.2% in the 4th quarter. Allworth Financial LP now owns 636 shares of the financial services provider’s stock valued at $89,000 after buying an additional 204 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of CBRE Group in the 4th quarter valued at approximately $1,132,000. Finally, Brown Brothers Harriman & Co. increased its holdings in CBRE Group by 11.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 487,133 shares of the financial services provider’s stock worth $63,956,000 after buying an additional 51,964 shares during the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. UBS Group decreased their price objective on shares of CBRE Group from $146.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Morgan Stanley lowered their target price on shares of CBRE Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded CBRE Group from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.22.

CBRE Group Stock Performance

Shares of CBRE opened at $128.64 on Friday. The company has a market capitalization of $38.35 billion, a PE ratio of 40.97 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75. The company’s fifty day moving average price is $123.04 and its 200 day moving average price is $131.24.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The company had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Transactions at CBRE Group

In other news, insider Chad J. Doellinger sold 797 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the transaction, the insider now owns 28,735 shares in the company, valued at approximately $3,629,517.85. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the sale, the chief financial officer now directly owns 105,371 shares in the company, valued at approximately $13,603,396.10. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,396 shares of company stock worth $685,649 over the last three months. 0.42% 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.