D.B. Root & Company LLC Takes Position in CBRE Group, Inc. (NYSE:CBRE)

D.B. Root & Company LLC purchased a new position in CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,260 shares of the financial services provider’s stock, valued at approximately $559,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased 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 buying an additional 692,697 shares during the period. Geode Capital Management LLC boosted its position in shares of CBRE Group by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after acquiring an additional 56,888 shares in the last quarter. FMR LLC increased 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 acquiring an additional 3,498,244 shares during the last quarter. Principal Financial Group Inc. raised 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 valued at $924,223,000 after purchasing an additional 277,922 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted 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 purchasing an additional 49,732 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

NYSE CBRE opened at $139.50 on Thursday. The company has a market capitalization of $42.69 billion, a price-to-earnings ratio of 44.86 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a twelve month low of $82.75 and a twelve month high of $142.00. The stock has a fifty day simple moving average of $133.60 and a 200 day simple moving average of $122.28.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on CBRE shares. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Citigroup increased their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Morgan Stanley raised shares of CBRE Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $115.00 to $160.00 in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Finally, Evercore ISI decreased their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.44.

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.