61,390 Shares in CBRE Group, Inc. (NYSE:CBRE) Acquired by DigitalBridge Group Inc.

DigitalBridge Group Inc. purchased a new stake in CBRE Group, Inc. (NYSE:CBRE) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 61,390 shares of the financial services provider’s stock, valued at approximately $5,470,000.

Several other institutional investors also recently bought and sold shares of CBRE. Benjamin F. Edwards & Company Inc. boosted its position in CBRE Group by 190.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 215 shares during the period. Crewe Advisors LLC acquired a new stake in shares of CBRE Group in the first quarter valued at approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of CBRE Group by 44.8% in the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 165 shares in the last quarter. EdgeRock Capital LLC bought a new stake in CBRE Group during the second quarter worth approximately $75,000. Finally, Spartan Planning & Wealth Management bought a new stake in CBRE Group during the fourth quarter worth approximately $78,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Stock Performance

Shares of CBRE opened at $122.36 on Thursday. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $124.06. The firm has a fifty day simple moving average of $112.07 and a 200 day simple moving average of $97.75. The stock has a market capitalization of $37.54 billion, a price-to-earnings ratio of 38.12 and a beta of 1.40. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CBRE shares. Morgan Stanley began coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI upgraded shares of 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. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Finally, Raymond James raised their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and an average target price of $112.33.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now owns 51,244 shares in the company, valued at $5,739,328. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now owns 51,244 shares in the company, valued at $5,739,328. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The disclosure for this sale can be found here. Insiders sold a total of 27,232 shares of company stock worth $3,058,787 over the last quarter. 0.54% of the stock is currently 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.