Ritholtz Wealth Management Takes Position in CBRE Group, Inc. (NYSE:CBRE)

Ritholtz Wealth Management bought a new stake in CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,679 shares of the financial services provider’s stock, valued at approximately $1,008,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CBRE. Canton Hathaway LLC acquired a new position in shares of CBRE Group during the third quarter worth approximately $27,000. American National Bank & Trust bought a new position in CBRE Group in the 3rd quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. raised its position in shares of CBRE Group by 190.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after buying an additional 215 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of CBRE Group during the third quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC boosted its stake in CBRE Group by 2,830.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 283 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CBRE shares. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Evercore ISI decreased their price objective 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. The Goldman Sachs Group assumed coverage on CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, Citigroup raised their price target on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.44.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

CBRE Group Price Performance

Shares of CBRE stock opened at $137.02 on Monday. The stock’s fifty day moving average is $133.43 and its 200-day moving average is $121.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group, Inc. has a 52 week low of $82.75 and a 52 week high of $142.00. The stock has a market capitalization of $41.93 billion, a PE ratio of 44.06 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. CBRE Group’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 EPS. Equities research analysts expect that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

CBRE Group 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.