The Manufacturers Life Insurance Company Boosts Stock Position in CBRE Group, Inc. (NYSE:CBRE)

The Manufacturers Life Insurance Company raised its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,505 shares of the financial services provider’s stock after buying an additional 5,743 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of CBRE Group worth $26,577,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CBRE. B. Riley Wealth Advisors Inc. increased its position in shares of CBRE Group by 46.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,969 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 1,256 shares in the last quarter. Tidal Investments LLC raised its stake 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 worth $1,599,000 after purchasing an additional 10,740 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of CBRE Group by 61.5% during the first quarter. Atria Investments Inc now owns 29,643 shares of the financial services provider’s stock valued at $2,882,000 after purchasing an additional 11,289 shares in the last quarter. Cetera Investment Advisers increased its holdings in CBRE Group by 500.1% in the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after buying an additional 23,290 shares in the last quarter. Finally, Cetera Advisors LLC raised its position in CBRE Group by 9.1% in the 1st quarter. Cetera Advisors LLC now owns 13,074 shares of the financial services provider’s stock worth $1,271,000 after buying an additional 1,090 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CBRE. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. 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 note on Friday, October 4th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Citigroup increased their target price on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Five equities research 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 a consensus rating of “Moderate Buy” and an average price target of $123.00.

CBRE Group Trading Down 0.5 %

CBRE Group stock opened at $139.99 on Friday. The firm has a market capitalization of $42.84 billion, a price-to-earnings ratio of 45.01 and a beta of 1.39. CBRE Group, Inc. has a 12-month low of $78.18 and a 12-month high of $142.00. The firm has a 50 day moving average of $128.80 and a 200 day moving average of $110.46. The company has a current ratio of 1.13, a quick 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 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following 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 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Company 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.