Crestmont Private Wealth LLC Acquires New Position in CBRE Group, Inc. (NYSE:CBRE)

by · The Markets Daily

Crestmont Private Wealth LLC bought a new position in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,115 shares of the financial services provider’s stock, valued at approximately $263,000.

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers raised its stake in shares of CBRE Group by 500.1% in the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after purchasing an additional 23,290 shares during the last quarter. Natixis lifted its stake in CBRE Group by 69.0% during the 1st quarter. Natixis now owns 55,018 shares of the financial services provider’s stock valued at $5,350,000 after acquiring an additional 22,464 shares during the period. Quantbot Technologies LP acquired a new stake in CBRE Group during the 1st quarter valued at approximately $1,118,000. Nordea Investment Management AB boosted its holdings in shares of CBRE Group by 1,730.4% in the 1st quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider’s stock valued at $38,550,000 after acquiring an additional 372,870 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of CBRE Group by 103.8% in the fourth quarter. Fisher Asset Management LLC now owns 44,065 shares of the financial services provider’s stock worth $4,102,000 after acquiring an additional 22,442 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analysts Set New Price Targets

CBRE has been the subject of a number of research reports. Evercore ISI boosted their target price on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Raymond James upped their target price on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Morgan Stanley assumed coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.83.

Check Out Our Latest Research Report on CBRE

Insider Buying and Selling at CBRE Group

In related news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. This trade represents a 0.00 % 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 this link. In other news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the sale, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,232 shares of company stock worth $3,058,787. Insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $121.93 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $125.43. The firm has a market capitalization of $37.41 billion, a PE ratio of 37.98 and a beta of 1.40. The business’s 50 day moving average price is $116.54 and its 200-day moving average price is $100.22.

CBRE Group (NYSE:CBRE – Get Free Report) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, equities research analysts expect that CBRE Group, Inc. will post 4.81 earnings per share for the current fiscal year.

CBRE Group Profile

(Free Report)

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.

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