Kayne Anderson Rudnick Investment Management LLC Raises Position in CBRE Group, Inc. (NYSE:CBRE)

Kayne Anderson Rudnick Investment Management LLC grew its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 86,240.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,219 shares of the financial services provider's stock after purchasing an additional 30,184 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in CBRE Group were worth $3,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of CBRE Group in the fourth quarter valued at about $514,609,000. Artisan Partners Limited Partnership lifted its position in shares of CBRE Group by 290.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock worth $531,736,000 after purchasing an additional 3,011,566 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in shares of CBRE Group in the 4th quarter valued at $190,695,000. Manning & Napier Advisors LLC acquired a new stake in shares of CBRE Group during the fourth quarter worth $175,978,000. Finally, Massachusetts Financial Services Co. MA raised its stake in CBRE Group by 11,750.8% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on CBRE shares. JPMorgan Chase & Co. cut their price target on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. StockNews.com cut CBRE Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Jefferies Financial Group upgraded CBRE Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. UBS Group cut their price target on CBRE Group from $146.00 to $130.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of CBRE Group from $145.00 to $129.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $149.00.

CBRE Group Stock Up 0.6 %

CBRE traded up $0.79 during trading on Thursday, hitting $122.84. 3,168,927 shares of the company's stock were exchanged, compared to its average volume of 1,825,558. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. The stock has a market cap of $36.83 billion, a P/E ratio of 39.12 and a beta of 1.26. The business's 50 day moving average is $128.10 and its two-hundred day moving average is $131.93. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The company had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. As a group, equities analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares of the company's stock, valued at approximately $13,491,941.67. The trade was 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 accessible through this link. Also, insider Chad J. Doellinger sold 797 shares of the company's stock in a transaction 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 completion of the transaction, the insider now owns 28,735 shares of the company's stock, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% 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.