DnB Asset Management AS Buys 14,831 Shares of CBRE Group, Inc. (NYSE:CBRE)

DnB Asset Management AS boosted its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 28.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,840 shares of the financial services provider’s stock after purchasing an additional 14,831 shares during the period. DnB Asset Management AS’s holdings in CBRE Group were worth $8,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in CBRE Group in the 4th quarter valued at approximately $514,609,000. Artisan Partners Limited Partnership lifted its position in shares of CBRE Group by 290.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock worth $531,736,000 after purchasing an additional 3,011,566 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in CBRE Group during the fourth quarter worth $190,695,000. Manning & Napier Advisors LLC bought a new position in CBRE Group in the fourth quarter valued at $175,978,000. Finally, Los Angeles Capital Management LLC increased its stake in CBRE Group by 1,499.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock valued at $139,162,000 after buying an additional 993,687 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CBRE shares. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Morgan Stanley increased their price target on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.89.

Insider Transactions at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now directly owns 107,343 shares in the company, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the sale, the insider now owns 28,735 shares of the company’s stock, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

CBRE Group Price Performance

NYSE:CBRE opened at $129.40 on Friday. The company has a market cap of $38.82 billion, a P/E ratio of 41.21 and a beta of 1.42. The firm’s fifty day moving average price is $137.54 and its two-hundred day moving average price is $132.25. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Equities analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

CBRE Group Company Profile

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.