Algert Global LLC Purchases New Stake in CBRE Group, Inc. (NYSE:CBRE)

Algert Global LLC purchased a new stake in CBRE Group, Inc. (NYSE:CBRE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,693 shares of the financial services provider’s stock, valued at approximately $1,829,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers increased its holdings 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 valued at $2,718,000 after purchasing an additional 23,290 shares during the last quarter. Czech National Bank increased its holdings in shares of CBRE Group by 9.8% in the second quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock valued at $5,121,000 after purchasing an additional 5,125 shares during the last quarter. Comerica Bank increased its holdings in shares of CBRE Group by 7.4% in the first quarter. Comerica Bank now owns 91,518 shares of the financial services provider’s stock valued at $8,899,000 after purchasing an additional 6,337 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of CBRE Group by 188.0% in the first quarter. Tidal Investments LLC now owns 16,453 shares of the financial services provider’s stock valued at $1,599,000 after purchasing an additional 10,740 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in CBRE Group by 6.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 323,311 shares of the financial services provider’s stock worth $28,810,000 after acquiring an additional 20,717 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup raised their target price on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. Evercore ISI raised their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods raised their target price on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.00.

CBRE Group Trading Up 0.2 %

CBRE opened at $140.76 on Thursday. CBRE Group, Inc. has a 52 week low of $78.18 and a 52 week high of $142.00. The business has a fifty day simple moving average of $128.07 and a 200-day simple moving average of $109.74. The firm has a market cap of $43.07 billion, a P/E ratio of 45.26 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. On average, equities analysts expect that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction on Friday, November 15th. The stock was 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 directly owns 70,154 shares in the company, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction 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 transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

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.