Frank Rimerman Advisors LLC Acquires Shares of 4,162 CBRE Group, Inc. (NYSE:CBRE)

Frank Rimerman Advisors LLC bought a new position in CBRE Group, Inc. (NYSE:CBRE) during the 2nd quarter, HoldingsChannel reports. The fund bought 4,162 shares of the financial services provider’s stock, valued at approximately $371,000.

A number of other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its holdings 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 valued at $29,000 after purchasing an additional 215 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of CBRE Group in the first quarter valued at $30,000. EverSource Wealth Advisors LLC raised 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 buying an additional 165 shares during the last quarter. EdgeRock Capital LLC acquired a new position in CBRE Group during the 2nd quarter worth about $75,000. Finally, Spartan Planning & Wealth Management acquired a new position in CBRE Group during the 4th quarter worth about $78,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CBRE. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Raymond James increased their price objective on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Morgan Stanley assumed coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price for the company. Finally, UBS Group reduced their target price on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.33.

Insiders Place Their Bets

In other news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $24,894,168.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $109.87, for a total transaction of $219,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,606 shares in the company, valued at approximately $1,824,501.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,232 shares of company stock worth $3,058,787. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $123.36 on Wednesday. The company has a market capitalization of $37.85 billion, a price-to-earnings ratio of 38.43 and a beta of 1.40. The firm’s 50 day simple moving average is $112.07 and its 200 day simple moving average is $97.75. 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, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $123.59.

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

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.