D.B. Root & Company LLC Acquires New Holdings in CBRE Group, Inc. (NYSE:CBRE)

D.B. Root & Company LLC bought a new position in CBRE Group, Inc. (NYSE:CBRE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,260 shares of the financial services provider’s stock, valued at approximately $559,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its stake in CBRE Group by 85.6% during the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after buying an additional 3,498,244 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of CBRE Group by 60.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after purchasing an additional 993,963 shares during the period. State Street Corp lifted its holdings in shares of CBRE Group by 5.4% during the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after purchasing an additional 692,697 shares in the last quarter. Eminence Capital LP grew its position in shares of CBRE Group by 42.6% in the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after purchasing an additional 453,406 shares during the period. Finally, Maverick Capital Ltd. bought a new stake in CBRE Group during the 2nd quarter worth approximately $36,820,000. 98.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on CBRE shares. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Citigroup increased their price objective on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 target price on the stock. Finally, Morgan Stanley raised shares of CBRE Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $115.00 to $160.00 in a research note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.44.

CBRE Group Price Performance

NYSE:CBRE opened at $139.50 on Thursday. CBRE Group, Inc. has a 12-month low of $82.75 and a 12-month high of $142.00. The firm has a market capitalization of $42.69 billion, a price-to-earnings ratio of 44.86 and a beta of 1.39. The stock’s 50 day moving average price is $133.60 and its two-hundred day moving average price is $122.28. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. On average, analysts anticipate that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

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.