NewEdge Wealth LLC Invests $231,000 in CBRE Group, Inc. (NYSE:CBRE)

NewEdge Wealth LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,485 shares of the financial services provider’s stock, valued at approximately $231,000.

Other hedge funds also recently modified their holdings of the company. Harris Associates L P grew its stake in CBRE Group by 4.0% in the 3rd quarter. Harris Associates L P now owns 15,321,916 shares of the financial services provider’s stock valued at $1,131,677,000 after buying an additional 586,661 shares during the last quarter. FMR LLC boosted its holdings in CBRE Group by 3.1% in the 3rd quarter. FMR LLC now owns 9,465,982 shares of the financial services provider’s stock valued at $699,157,000 after purchasing an additional 288,287 shares during the period. Geode Capital Management LLC boosted its holdings in CBRE Group by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 7,189,800 shares of the financial services provider’s stock valued at $522,405,000 after purchasing an additional 148,971 shares during the period. Invesco Ltd. boosted its holdings in CBRE Group by 0.4% in the 3rd quarter. Invesco Ltd. now owns 7,083,778 shares of the financial services provider’s stock valued at $523,208,000 after purchasing an additional 28,316 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in CBRE Group by 15.1% in the 3rd quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock valued at $503,786,000 after purchasing an additional 894,521 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Price Performance

NYSE:CBRE opened at $85.14 on Friday. The company has a 50-day moving average of $92.43 and a 200-day moving average of $84.71. The company has a market capitalization of $26.13 billion, a price-to-earnings ratio of 26.86 and a beta of 1.42. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $98.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The firm had revenue of $8.95 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the firm posted $1.33 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts anticipate that CBRE Group, Inc. will post 4.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CBRE has been the subject of a number of research reports. Evercore ISI increased their price target on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, April 2nd. TheStreet raised shares of CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Jefferies Financial Group initiated coverage on shares of CBRE Group in a report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Finally, StockNews.com downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $99.50.

Insider Activity at CBRE Group

In related news, CEO Chandra Dhandapani sold 11,925 shares of CBRE Group stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the completion of the transaction, the chief executive officer now directly owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CBRE Group news, CEO Chandra Dhandapani sold 11,925 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $94.03, for a total value of $1,121,307.75. Following the completion of the sale, the chief executive officer now owns 127,064 shares in the company, valued at approximately $11,947,827.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John E. Durburg sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the completion of the sale, the chief executive officer now owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The disclosure for this sale can be found here. Insiders sold 39,592 shares of company stock valued at $3,675,752 in the last ninety days. Insiders own 0.53% of the company’s stock.

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.