Allstate Corp Invests $1.20 Million in CBRE Group, Inc. (NYSE:CBRE)

Allstate Corp acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,155 shares of the financial services provider’s stock, valued at approximately $1,202,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in CBRE Group during the fourth quarter valued at about $514,609,000. Artisan Partners Limited Partnership lifted its position in 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 buying an additional 3,011,566 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of CBRE Group during the 4th quarter valued at $190,695,000. Manning & Napier Advisors LLC bought a new stake in shares of CBRE Group in the 4th quarter valued at about $175,978,000. Finally, Los Angeles Capital Management LLC grew its position in CBRE Group by 1,499.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock worth $139,162,000 after acquiring an additional 993,687 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other CBRE Group news, insider Chad J. Doellinger sold 797 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction that occurred 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. The trade was 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

Shares of CBRE opened at $129.40 on Monday. The company has a 50-day simple moving average of $137.54 and a two-hundred day simple moving average of $132.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The firm has a market capitalization of $38.82 billion, a PE ratio of 41.21 and a beta of 1.42. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates 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, analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on CBRE. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $133.00 to $152.00 in a research report on Thursday, January 2nd. Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective 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. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Finally, The Goldman Sachs Group began coverage on CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price target on the stock. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.89.

About CBRE Group

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.