CBRE Group, Inc. (NYSE:CBRE) Shares Bought by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 86,240.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 30,219 shares of the financial services provider’s stock after buying an additional 30,184 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in CBRE Group were worth $3,968,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of CBRE Group during the 4th quarter valued at approximately $514,609,000. Artisan Partners Limited Partnership grew its position in shares of CBRE Group by 290.0% in the fourth 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 period. Alphinity Investment Management Pty Ltd acquired a new position in shares of CBRE Group during the 4th quarter worth about $190,695,000. Manning & Napier Advisors LLC purchased a new position in CBRE Group in the 4th quarter valued at about $175,978,000. Finally, Massachusetts Financial Services Co. MA increased its stake in CBRE Group by 11,750.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider’s stock worth $161,876,000 after buying an additional 1,222,558 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on CBRE Group from $163.00 to $141.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods lowered their target price on CBRE Group from $145.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. StockNews.com cut CBRE Group from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, Raymond James cut CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $155.00 to $152.00 in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.56.

CBRE Group Price Performance

NYSE:CBRE opened at $115.41 on Tuesday. The stock’s fifty day moving average is $129.46 and its two-hundred day moving average is $132.07. 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 company has a market capitalization of $34.61 billion, a P/E ratio of 36.75 and a beta of 1.26. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating 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%. Equities analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Activity at CBRE Group

In other news, insider Chad J. Doellinger sold 797 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the transaction, the chief financial officer now owns 107,343 shares of the company’s stock, valued at $13,491,941.67. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

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.