KLP Kapitalforvaltning AS Buys New Stake in CBRE Group, Inc. (NYSE:CBRE)

KLP Kapitalforvaltning AS bought a new position in CBRE Group, Inc. (NYSE:CBRE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 104,551 shares of the financial services provider's stock, valued at approximately $13,727,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its holdings in CBRE Group by 85.6% during the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider's stock worth $944,435,000 after acquiring an additional 3,498,244 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of CBRE Group during the fourth quarter valued at approximately $190,695,000. Manning & Napier Advisors LLC bought a new position in shares of CBRE Group during the fourth quarter valued at approximately $175,978,000. Los Angeles Capital Management LLC increased its holdings in CBRE Group by 1,499.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider's stock valued at $139,162,000 after buying an additional 993,687 shares during the period. Finally, American Century Companies Inc. raised its stake in CBRE Group by 150.5% in the fourth quarter. American Century Companies Inc. now owns 1,157,720 shares of the financial services provider's stock worth $151,997,000 after buying an additional 695,558 shares in the last quarter. Institutional investors own 98.41% of the company's stock.

Analyst Ratings Changes

CBRE has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded CBRE Group from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $120.00 to $163.00 in a report on Monday, December 16th. Raymond James downgraded shares of CBRE Group from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $155.00 to $152.00 in a report on Friday, January 24th. Keefe, Bruyette & Woods increased 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 report on Friday, February 14th. Evercore ISI cut their price objective on shares of CBRE Group from $147.00 to $141.00 and set an "outperform" rating on the stock in a research report on Monday, January 13th. Finally, Jefferies Financial Group upgraded shares of CBRE Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.89.

Remove Ads

Insider Transactions at CBRE Group

In other news, 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 sale, the insider now directly owns 28,735 shares of the company's stock, valued at $3,629,517.85. This represents a 2.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares of the company's stock, valued at $13,491,941.67. This represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

CBRE Group Stock Performance

CBRE Group stock traded down $2.12 during mid-day trading on Friday, reaching $129.40. 1,218,782 shares of the company traded hands, compared to its average volume of 1,756,158. The firm's fifty day moving average is $137.54 and its two-hundred day moving average is $132.15. The company has a market capitalization of $38.82 billion, a price-to-earnings ratio of 41.21 and a beta of 1.42. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, equities research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

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.