CBRE Group, Inc. (NYSE:CBRE) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada boosted its holdings in CBRE Group, Inc. (NYSE:CBRE) by 49.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 645,127 shares of the financial services provider’s stock after purchasing an additional 214,503 shares during the quarter. Royal Bank of Canada owned approximately 0.21% of CBRE Group worth $84,700,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Raiffeisen Bank International AG acquired a new position in CBRE Group in the fourth quarter worth $9,184,000. ProShare Advisors LLC boosted its holdings in CBRE Group by 5.2% in the fourth quarter. ProShare Advisors LLC now owns 66,995 shares of the financial services provider’s stock worth $8,796,000 after purchasing an additional 3,291 shares during the period. Quadcap Wealth Management LLC acquired a new position in CBRE Group in the fourth quarter worth $432,000. Quantinno Capital Management LP boosted its holdings in CBRE Group by 5.5% in the fourth quarter. Quantinno Capital Management LP now owns 117,595 shares of the financial services provider’s stock worth $15,439,000 after purchasing an additional 6,120 shares during the period. Finally, Mufg Securities Americas Inc. bought a new stake in CBRE Group in the fourth quarter valued at $583,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CBRE. JPMorgan Chase & Co. cut their target price on CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley cut their target price on CBRE Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Raymond James cut CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $155.00 to $152.00 in a research note on Friday, January 24th. UBS Group cut their target price on CBRE Group from $146.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, StockNews.com cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.22.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares of the company’s stock, valued at approximately $13,491,941.67. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $100,669.07. Following the completion of the transaction, the insider now directly owns 28,735 shares in the company, valued at $3,629,517.85. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,424 shares of company stock worth $431,064. 0.42% of the stock is owned by corporate insiders.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $130.23 on Tuesday. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. The firm’s 50-day simple moving average is $124.48 and its 200 day simple moving average is $132.06. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The stock has a market cap of $38.82 billion, a P/E ratio of 41.47 and a beta of 1.30.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The firm had revenue of $8.91 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same period in the previous year, the business earned $0.78 earnings per share. CBRE Group’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts expect that CBRE Group, Inc. will post 5.99 EPS 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.