Prestige Wealth Management Group LLC Grows Holdings in CBRE Group, Inc. (NYSE:CBRE)

Prestige Wealth Management Group LLC increased its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 8.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,152 shares of the financial services provider’s stock after purchasing an additional 323 shares during the period. Prestige Wealth Management Group LLC’s holdings in CBRE Group were worth $545,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after buying an additional 692,697 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CBRE Group by 0.7% during the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after purchasing an additional 56,888 shares in the last quarter. Principal Financial Group Inc. boosted its position in CBRE Group by 2.4% in the 4th quarter. Principal Financial Group Inc. now owns 7,601,790 shares of the financial services provider’s stock valued at $998,039,000 after buying an additional 177,119 shares during the period. FMR LLC increased 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 purchasing an additional 3,498,244 shares during the period. Finally, Cantillon Capital Management LLC lifted its stake in CBRE Group by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 4,748,386 shares of the financial services provider’s stock worth $623,416,000 after acquiring an additional 25,142 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

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 transaction of $100,669.07. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the sale, the chief financial officer now owns 107,343 shares of the company’s stock, valued at $13,491,941.67. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

CBRE Group Trading Up 3.3 %

NYSE CBRE opened at $134.04 on Tuesday. The firm’s fifty day moving average is $137.55 and its two-hundred day moving average is $131.90. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. The firm has a market cap of $40.22 billion, a PE ratio of 42.69 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last issued its quarterly 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%. Analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CBRE shares. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, February 14th. StockNews.com upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Citigroup upped their target price on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Morgan Stanley lifted their price target on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

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.