Edgestream Partners L.P. Acquires Shares of 19,588 CBRE Group, Inc. (NYSE:CBRE)

Edgestream Partners L.P. acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,588 shares of the financial services provider’s stock, valued at approximately $2,562,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of CBRE Group by 4.8% in the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider’s stock valued at $1,042,317,000 after buying an additional 368,214 shares during the period. Geode Capital Management LLC lifted its position in shares of CBRE Group by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider’s stock valued at $1,035,229,000 after acquiring an additional 245,821 shares during the period. Franklin Resources Inc. lifted its holdings in shares of CBRE Group by 17.3% during the 4th quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider’s stock worth $538,390,000 after acquiring an additional 605,403 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after purchasing an additional 3,011,566 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of CBRE Group in the fourth quarter valued at approximately $514,609,000. 98.41% of the stock is owned by institutional investors.

Insider Transactions at CBRE Group

In related news, insider Chad J. Doellinger sold 494 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $126.05, for a total value of $62,268.70. Following the transaction, the insider owned 27,945 shares in the company, valued at approximately $3,522,467.25. This represents a 1.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer owned 105,371 shares in the company, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,031 shares of company stock valued at $814,080 over the last 90 days. 0.42% of the stock is owned by corporate insiders.

CBRE Group Stock Up 0.3%

Shares of NYSE CBRE opened at $138.82 on Friday. The firm’s 50 day moving average price is $132.87 and its 200 day moving average price is $131.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. CBRE Group, Inc. has a 1 year low of $96.38 and a 1 year high of $147.75. The firm has a market cap of $41.38 billion, a P/E ratio of 42.45 and a beta of 1.30.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. As a group, sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analyst Weigh In

CBRE has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a report on Wednesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price objective (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Evercore ISI lifted their price objective on CBRE Group from $143.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, UBS Group upped their price target on CBRE Group from $130.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.78.

CBRE Group 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.