2,485 Shares in CBRE Group, Inc. (NYSE:CBRE) Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,485 shares of the financial services provider’s stock, valued at approximately $231,000.

Other hedge funds have also bought and sold shares of the company. Apollon Wealth Management LLC grew its stake in CBRE Group by 1.7% during the first quarter. Apollon Wealth Management LLC now owns 9,436 shares of the financial services provider’s stock worth $687,000 after buying an additional 155 shares in the last quarter. CIBC Asset Management Inc grew its stake in CBRE Group by 0.3% during the first quarter. CIBC Asset Management Inc now owns 46,601 shares of the financial services provider’s stock worth $3,393,000 after buying an additional 159 shares in the last quarter. Schechter Investment Advisors LLC grew its stake in CBRE Group by 6.4% during the third quarter. Schechter Investment Advisors LLC now owns 2,787 shares of the financial services provider’s stock worth $206,000 after buying an additional 168 shares in the last quarter. NewEdge Advisors LLC grew its stake in CBRE Group by 3.7% during the first quarter. NewEdge Advisors LLC now owns 5,092 shares of the financial services provider’s stock worth $371,000 after buying an additional 180 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its stake in CBRE Group by 57.4% during the first quarter. Belpointe Asset Management LLC now owns 499 shares of the financial services provider’s stock worth $36,000 after buying an additional 182 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

NYSE:CBRE opened at $85.14 on Friday. The firm’s 50 day simple moving average is $92.43 and its 200 day simple moving average is $84.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.17 and a quick ratio of 1.17. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $98.65. The company has a market cap of $26.13 billion, a PE ratio of 26.86 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The business had revenue of $8.95 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the company earned $1.33 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, research analysts anticipate that CBRE Group, Inc. will post 4.44 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the sale, the chief financial officer now directly owns 72,350 shares in the company, valued at approximately $6,766,895.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the transaction, the chief financial officer now owns 72,350 shares in the company, valued at approximately $6,766,895.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John E. Durburg sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the transaction, the chief executive officer now owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The disclosure for this sale can be found here. Insiders have sold a total of 39,592 shares of company stock worth $3,675,752 in the last ninety days. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 2nd. Raymond James raised their price target on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Finally, TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $99.50.

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.