CBRE Group, Inc. $CBRE Shares Newly Bought by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC purchased a new position in CBRE Group, Inc. (NYSE:CBRE) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,131 shares of the financial services provider’s stock, valued at approximately $531,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Beverly Hills Private Wealth LLC purchased a new position in shares of CBRE Group in the third quarter worth approximately $201,000. University of Texas Texas AM Investment Management Co. lifted its position in shares of CBRE Group by 66.2% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 38,276 shares of the financial services provider’s stock valued at $4,917,000 after acquiring an additional 15,248 shares in the last quarter. Brighton Jones LLC lifted its position in shares of CBRE Group by 33.6% in the 3rd quarter. Brighton Jones LLC now owns 19,844 shares of the financial services provider’s stock valued at $2,549,000 after acquiring an additional 4,993 shares in the last quarter. Candriam S.C.A. boosted its stake in CBRE Group by 23.9% in the 3rd quarter. Candriam S.C.A. now owns 198,582 shares of the financial services provider’s stock worth $25,605,000 after purchasing an additional 38,310 shares during the period. Finally, Ethic Inc. grew its position in CBRE Group by 10.5% during the 3rd quarter. Ethic Inc. now owns 73,547 shares of the financial services provider’s stock worth $9,449,000 after purchasing an additional 6,993 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Trading Down 0.1%

CBRE Group stock opened at $135.38 on Monday. The company’s fifty day simple moving average is $135.04 and its 200-day simple moving average is $141.18. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. CBRE Group, Inc. has a 12 month low of $121.44 and a 12 month high of $174.27. The stock has a market cap of $39.02 billion, a P/E ratio of 28.99 and a beta of 1.24.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.09. CBRE Group had a return on equity of 26.31% and a net margin of 3.08%. The business had revenue of $11.52 billion during the quarter, compared to analyst estimates of $11.81 billion. During the same period last year, the company earned $1.61 earnings per share. CBRE Group’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that CBRE Group, Inc. will post 7.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CBRE. Barclays boosted their target price on shares of CBRE Group from $180.00 to $183.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. UBS Group raised their target price on CBRE Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CBRE Group in a research report on Friday, August 21st. Wall Street Zen downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Evercore dropped their price target on CBRE Group from $175.00 to $166.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.78.

Insider Transactions at CBRE Group

In other news, insider Chad Doellinger sold 228 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $148.29, for a total transaction of $33,810.12. Following the completion of the sale, the insider directly owned 41,778 shares of the company’s stock, valued at $6,195,259.62. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $148.29, for a total value of $333,652.50. Following the sale, the chief financial officer owned 108,479 shares of the company’s stock, valued at approximately $16,086,350.91. This represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by company insiders.

About CBRE Group

CBRE Group, Inc is a commercial real estate services and investment company serving property owners, occupiers, investors and developers. Its services include property leasing and sales, property and facilities management, project management, valuation, consulting and commercial real estate financing.

The company also provides real estate investment management and development services. Through its global operations, CBRE serves clients across a range of property types and markets, including offices, industrial facilities, retail properties and data centers.

CBRE traces its roots to a real estate business established in San Francisco in 1906.