TCTC Holdings LLC Invests $7.59 Million in CBRE Group, Inc. (NYSE:CBRE)

TCTC Holdings LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 57,770 shares of the financial services provider’s stock, valued at approximately $7,585,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Meridian Wealth Management LLC lifted its position in CBRE Group by 1.4% during the 4th quarter. Meridian Wealth Management LLC now owns 5,192 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 71 shares in the last quarter. Gilbert & Cook Inc. lifted its position in CBRE Group by 1.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,448 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 75 shares in the last quarter. Signaturefd LLC lifted its position in CBRE Group by 2.0% during the 4th quarter. Signaturefd LLC now owns 5,074 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 99 shares in the last quarter. IFP Advisors Inc lifted its position in CBRE Group by 9.1% during the 4th quarter. IFP Advisors Inc now owns 1,203 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 100 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in CBRE Group by 2.6% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,098 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Activity

In other news, insider Chad J. Doellinger sold 797 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the transaction, the insider now directly owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CBRE. Evercore ISI reduced their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group assumed 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. Keefe, Bruyette & Woods upped their target price on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research report on Friday, February 14th. Citigroup upped their target price on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Raymond James lowered 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 report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Stock Performance

Shares of NYSE CBRE opened at $125.53 on Monday. 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 firm’s 50-day moving average price is $137.35 and its two-hundred day moving average price is $131.28. CBRE Group, Inc. has a 52-week low of $84.24 and a 52-week high of $147.75. The stock has a market capitalization of $37.66 billion, a P/E ratio of 39.98 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. As a group, sell-side analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share 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.