The Manufacturers Life Insurance Company Purchases 5,743 Shares of CBRE Group, Inc. (NYSE:CBRE)

The Manufacturers Life Insurance Company boosted its position in CBRE Group, Inc. (NYSE:CBRE) by 2.8% in the 3rd quarter, Holdings Channel reports. The firm owned 213,505 shares of the financial services provider’s stock after buying an additional 5,743 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CBRE Group were worth $26,577,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its holdings in CBRE Group by 46.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,969 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 1,256 shares during the period. Tidal Investments LLC boosted its stake in shares of CBRE Group by 188.0% during the first quarter. Tidal Investments LLC now owns 16,453 shares of the financial services provider’s stock valued at $1,599,000 after purchasing an additional 10,740 shares during the period. Atria Investments Inc grew its holdings in shares of CBRE Group by 61.5% in the first quarter. Atria Investments Inc now owns 29,643 shares of the financial services provider’s stock worth $2,882,000 after purchasing an additional 11,289 shares during the last quarter. Cetera Investment Advisers increased its stake in CBRE Group by 500.1% in the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after buying an additional 23,290 shares during the period. Finally, Cetera Advisors LLC lifted its holdings in CBRE Group by 9.1% during the 1st quarter. Cetera Advisors LLC now owns 13,074 shares of the financial services provider’s stock valued at $1,271,000 after buying an additional 1,090 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup raised their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI lifted their target price on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and an average price target of $123.00.

CBRE Group Stock Performance

CBRE stock opened at $139.99 on Friday. CBRE Group, Inc. has a one year low of $78.18 and a one year high of $142.00. The firm has a market cap of $42.84 billion, a price-to-earnings ratio of 45.01 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day simple moving average of $128.80 and a two-hundred day simple moving average of $110.46.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. CBRE Group’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

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.