Hudson Valley Investment Advisors Inc. ADV Invests $1.52 Million in CBRE Group, Inc. (NYSE:CBRE)

Hudson Valley Investment Advisors Inc. ADV purchased a new stake in CBRE Group, Inc. (NYSE:CBRE) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 11,563 shares of the financial services provider’s stock, valued at approximately $1,518,000.

Several other institutional investors have also made changes to their positions in CBRE. State Street Corp raised its holdings in CBRE Group by 5.4% in the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after acquiring an additional 692,697 shares in the last quarter. Geode Capital Management LLC raised its stake in CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock valued at $950,270,000 after purchasing an additional 56,888 shares in the last quarter. FMR LLC raised its stake in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares in the last quarter. Principal Financial Group Inc. lifted its position in CBRE Group by 3.9% during the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after purchasing an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in CBRE Group by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after buying an additional 49,732 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Stock Performance

Shares of CBRE stock opened at $129.78 on Friday. The business’s 50-day moving average price is $133.80 and its 200-day moving average price is $119.37. CBRE Group, Inc. has a 12 month low of $82.75 and a 12 month high of $142.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $39.72 billion, a price-to-earnings ratio of 41.73 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same period last year, the company earned $0.72 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that CBRE Group, Inc. will post 4.99 EPS for the current year.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $163.00 in a research report on Monday, December 16th. Evercore ISI boosted their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and raised their target price for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Citigroup lifted their price target on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.33.

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.