Resona Asset Management Co. Ltd. Invests $17.51 Million in CBRE Group, Inc. (NYSE:CBRE)

Resona Asset Management Co. Ltd. acquired a new position in CBRE Group, Inc. (NYSE:CBRE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 133,600 shares of the financial services provider's stock, valued at approximately $17,514,000.

Several other large investors have also added to or reduced their stakes in the business. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of CBRE Group in the fourth quarter valued at approximately $1,518,000. Merit Financial Group LLC acquired a new stake in CBRE Group during the 4th quarter valued at $256,000. Fulton Bank N.A. boosted its position in CBRE Group by 342.0% during the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider's stock worth $3,262,000 after purchasing an additional 19,227 shares during the period. Prestige Wealth Management Group LLC increased its holdings in shares of CBRE Group by 17,304.5% in the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider's stock valued at $477,000 after purchasing an additional 3,807 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of CBRE Group in the fourth quarter valued at about $175,978,000. Institutional investors and hedge funds own 98.41% of the company's stock.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 2,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the sale, the chief financial officer now directly owns 107,343 shares of the company's stock, valued at $13,491,941.67. This trade represents a 1.83 % 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, insider Chad J. Doellinger sold 797 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total value of $100,669.07. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

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CBRE Group Price Performance

Shares of CBRE traded down $2.81 during trading hours on Friday, reaching $113.84. 996,174 shares of the company's stock traded hands, compared to its average volume of 1,801,552. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The stock has a market cap of $34.14 billion, a PE ratio of 36.29 and a beta of 1.26. The firm's 50 day simple moving average is $133.15 and its 200-day simple moving average is $132.30.

CBRE Group (NYSE:CBRE - Get Free Report) last released 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 return on equity of 16.96% and a net margin of 2.71%. Equities analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CBRE shares. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $142.00 to $145.00 and gave the company a "market perform" rating in a research note on Friday, February 14th. Evercore ISI cut their target price on CBRE Group from $147.00 to $141.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research report on Thursday. Raymond James downgraded shares of CBRE Group from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Finally, UBS Group decreased their target price on shares of CBRE Group from $146.00 to $130.00 and set a "neutral" rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating, seven have issued 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 an average price target of $151.33.

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.