New Century Financial Group LLC Buys Shares of 2,808 CBRE Group, Inc. (NYSE:CBRE)

New Century Financial Group LLC acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,808 shares of the financial services provider’s stock, valued at approximately $369,000.

Several other large investors have also recently bought and sold shares of the stock. Algert Global LLC acquired a new position in shares of CBRE Group during the 3rd quarter worth about $1,829,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in CBRE Group during the fourth quarter worth about $1,518,000. Fulton Bank N.A. increased its position in CBRE Group by 342.0% during the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after buying an additional 19,227 shares during the last quarter. Prestige Wealth Management Group LLC raised its stake in CBRE Group by 17,304.5% in the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock valued at $477,000 after buying an additional 3,807 shares during the period. Finally, Cornerstone Advisors LLC lifted its position in shares of CBRE Group by 29.9% in the third quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock valued at $2,054,000 after buying an additional 3,800 shares during the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Raymond James cut CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $155.00 to $152.00 in a research note on Friday. Evercore ISI dropped their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price target for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group initiated coverage on CBRE Group in a research report on Friday, December 6th. They issued a “buy” rating and a $176.00 target price on the stock. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.56.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $141.23 on Friday. 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 company has a market cap of $43.22 billion, a PE ratio of 45.41 and a beta of 1.39. The company has a 50 day moving average of $133.86 and a 200-day moving average of $122.53. CBRE Group, Inc. has a 1-year low of $82.75 and a 1-year high of $142.00.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, 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 this link. 0.54% of the stock is owned by insiders.

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.