Merit Financial Group LLC Invests $256,000 in CBRE Group, Inc. (NYSE:CBRE)

Merit Financial Group LLC acquired a new stake in CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,950 shares of the financial services provider’s stock, valued at approximately $256,000.

Several other hedge funds also recently added to or reduced their stakes in CBRE. Algert Global LLC purchased a new stake in CBRE Group in the third quarter valued at $1,829,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in CBRE Group in the 4th quarter valued at about $1,518,000. Fulton Bank N.A. raised its holdings in CBRE Group by 342.0% in the 4th quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after buying an additional 19,227 shares during the period. Prestige Wealth Management Group LLC lifted its position in 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 buying an additional 3,807 shares during the last quarter. Finally, Cornerstone Advisors LLC boosted its stake in CBRE Group by 29.9% during the third quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock worth $2,054,000 after buying an additional 3,800 shares during the period. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Trading Up 0.1 %

CBRE opened at $141.23 on Friday. The business has a fifty day moving average price of $134.08 and a 200 day moving average price of $122.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. CBRE Group, Inc. has a 12 month low of $82.75 and a 12 month high of $142.00. The stock has a market capitalization of $43.22 billion, a price-to-earnings ratio of 45.41 and a beta of 1.39.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Citigroup upped 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. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. The Goldman Sachs Group began coverage on CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their target price on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $148.56.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by insiders.

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.