KLP Kapitalforvaltning AS Makes New $13.73 Million Investment in CBRE Group, Inc. (NYSE:CBRE)

KLP Kapitalforvaltning AS purchased a new position in CBRE Group, Inc. (NYSE:CBRE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 104,551 shares of the financial services provider’s stock, valued at approximately $13,727,000.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in shares of CBRE Group by 5.4% in the third 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 during the period. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 56,888 shares during the period. Principal Financial Group Inc. increased its position in shares of CBRE Group by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 7,601,790 shares of the financial services provider’s stock valued at $998,039,000 after acquiring an additional 177,119 shares during the period. FMR LLC increased its position in shares of 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 period. Finally, Cantillon Capital Management LLC increased its position in shares of CBRE Group by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 4,748,386 shares of the financial services provider’s stock valued at $623,416,000 after acquiring an additional 25,142 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

CBRE has been the topic of a number of analyst reports. StockNews.com upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $163.00 in a research report on Monday, December 16th. Morgan Stanley boosted their price target on shares of CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.89.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares in the company, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 owns 28,735 shares in the company, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

Shares of CBRE opened at $129.76 on Monday. The stock has a market cap of $38.93 billion, a PE ratio of 41.32 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. The firm’s 50-day simple moving average is $137.34 and its two-hundred day simple moving average is $131.76.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

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.