Wealthstreet Investment Advisors LLC bought a new stake in CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,100 shares of the financial services provider’s stock, valued at approximately $357,000.
A number of other large investors have also bought and sold shares of the stock. Andra AP fonden acquired a new stake in shares of CBRE Group during the third quarter worth about $9,618,000. Jaffetilchin Investment Partners LLC acquired a new stake in CBRE Group in the third quarter valued at about $493,000. Aurora Investment Counsel acquired a new stake in CBRE Group in the third quarter valued at about $1,716,000. Atria Investments LLC lifted its position in CBRE Group by 14.4% in the second quarter. Atria Investments LLC now owns 8,151 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 1,024 shares during the period. Finally, Suntrust Banks Inc. acquired a new stake in CBRE Group in the first quarter valued at about $1,458,000. 94.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CBRE Group stock opened at $42.25 on Friday. CBRE Group Inc has a 12-month low of $38.05 and a 12-month high of $50.43. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.97 and a beta of 1.78.
CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, November 1st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.04. CBRE Group had a net margin of 4.21% and a return on equity of 23.53%. The company had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.17 billion. CBRE Group’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts predict that CBRE Group Inc will post 3.17 earnings per share for the current year.
In other news, CEO William F. Concannon sold 28,878 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $47.47, for a total transaction of $1,370,838.66. Following the completion of the transaction, the chief executive officer now directly owns 204,631 shares of the company’s stock, valued at approximately $9,713,833.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.
A number of equities research analysts recently commented on the stock. ValuEngine downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Barclays raised their price objective on shares of CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 30th. Finally, Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, August 6th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.19.
CBRE Group Company 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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