Applied Finance Capital Management LLC Makes New $47.49 Million Investment in CBRE Group, Inc. (NYSE:CBRE)

Applied Finance Capital Management LLC purchased a new position in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 361,683 shares of the financial services provider’s stock, valued at approximately $47,485,000. CBRE Group accounts for 2.1% of Applied Finance Capital Management LLC’s portfolio, making the stock its 17th largest holding. Applied Finance Capital Management LLC owned 0.12% of CBRE Group as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CBRE. Norges Bank acquired a new position in shares of CBRE Group during the 4th quarter valued at $514,609,000. Artisan Partners Limited Partnership boosted its stake in CBRE Group by 290.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after buying 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 about $190,695,000. Manning & Napier Advisors LLC bought a new stake in CBRE Group in the fourth quarter worth about $175,978,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in CBRE Group by 11,750.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider’s stock valued at $161,876,000 after acquiring an additional 1,222,558 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Chad J. Doellinger sold 797 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total value of $100,669.07. Following the completion of the sale, the insider now owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. The trade was a 2.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction 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. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CBRE shares. Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Keefe, Bruyette & Woods upped their price target on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, February 14th. StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Evercore ISI decreased their target price on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $163.00 in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group Stock Down 0.9 %

NYSE:CBRE opened at $117.01 on Tuesday. The business’s fifty day moving average price is $135.76 and its 200 day moving average price is $132.62. The firm has a market capitalization of $35.11 billion, a price-to-earnings ratio of 37.26 and a beta of 1.26. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 1-year low of $84.24 and a 1-year high of $147.75.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, sell-side analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal 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.