Edgestream Partners L.P. Makes New $1.46 Million Investment in CBRE Group, Inc. (NYSE:CBRE)

Edgestream Partners L.P. purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 2nd quarter, HoldingsChannel reports. The firm purchased 16,384 shares of the financial services provider’s stock, valued at approximately $1,460,000.

Other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc. RI boosted its position in shares of CBRE Group by 23.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 2,778 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 527 shares during the period. Dimensional Fund Advisors LP lifted its position in CBRE Group by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,317,751 shares of the financial services provider’s stock worth $295,640,000 after acquiring an additional 142,088 shares during the period. Massachusetts Financial Services Co. MA lifted its position in CBRE Group by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 59,187 shares of the financial services provider’s stock worth $5,274,000 after acquiring an additional 333 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in CBRE Group during the 2nd quarter worth approximately $20,094,000. Finally, Rathbones Group PLC lifted its position in CBRE Group by 3.0% during the 2nd quarter. Rathbones Group PLC now owns 4,774 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Lindsey S. Caplan sold 2,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the sale, the chief accounting officer now owns 16,606 shares in the company, valued at $1,824,501.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,232 shares of company stock valued at $3,058,787. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Raymond James raised their price target on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $100.00 to $123.00 in a report on Friday, July 26th. Morgan Stanley assumed coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target for the company. Finally, UBS Group reduced their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Stock Performance

NYSE CBRE opened at $121.60 on Friday. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $122.59. The company has a market capitalization of $37.31 billion, a P/E ratio of 37.88 and a beta of 1.40. The business has a 50 day moving average price of $111.03 and a 200 day moving average price of $97.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. CBRE Group’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Sell-side analysts expect that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

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.