Signature Financial Management Inc. purchased a new stake in CBRE Group (NYSE:CBRE) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,960 shares of the financial services provider’s stock, valued at approximately $281,000.
Other large investors also recently made changes to their positions in the company. Progressive Investment Management Corp acquired a new position in CBRE Group in the first quarter valued at about $4,020,000. Global X Management Co. LLC bought a new position in shares of CBRE Group during the first quarter worth about $662,000. Dreman Value Management L L C bought a new position in shares of CBRE Group during the first quarter worth about $607,000. FDx Advisors Inc. bought a new position in shares of CBRE Group during the first quarter worth about $3,122,000. Finally, Wells Fargo & Company MN bought a new position in shares of CBRE Group during the first quarter worth about $291,108,000. Hedge funds and other institutional investors own 92.96% of the company’s stock.
In other news, insider Brandon Boze sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $45.78, for a total value of $228,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William F. Concannon sold 29,483 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $47.68, for a total value of $1,405,749.44. Following the completion of the sale, the insider now directly owns 261,226 shares of the company’s stock, valued at $12,455,255.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,111,624 shares of company stock valued at $234,199,723. Insiders own 0.88% of the company’s stock.
A number of research analysts recently issued reports on CBRE shares. JMP Securities downgraded CBRE Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. Barclays increased their price target on CBRE Group from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. ValuEngine raised CBRE Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. William Blair reissued an “outperform” rating on shares of CBRE Group in a research report on Friday, February 2nd. Finally, Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.55.
Shares of NYSE CBRE opened at $47.68 on Wednesday. CBRE Group has a 52 week low of $33.88 and a 52 week high of $48.44. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The company has a market cap of $16.22 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.18 and a beta of 1.70.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. CBRE Group had a return on equity of 24.15% and a net margin of 4.48%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. equities research analysts anticipate that CBRE Group will post 3.12 EPS for the current year.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.
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