Norges Bank Takes Position in CBRE Group, Inc. (NYSE:CBRE)

Norges Bank acquired a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,919,635 shares of the financial services provider’s stock, valued at approximately $514,609,000. Norges Bank owned about 1.28% of CBRE Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of CBRE Group during the 4th quarter worth about $25,000. Denver PWM LLC acquired a new stake in CBRE Group during the fourth quarter worth approximately $29,000. Larson Financial Group LLC grew its stake in CBRE Group by 610.9% in the 4th quarter. Larson Financial Group LLC now owns 327 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 281 shares during the period. Catalyst Capital Advisors LLC raised its holdings in CBRE Group by 190.4% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 238 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in CBRE Group in the 4th quarter valued at $58,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Trading Down 1.6 %

Shares of CBRE stock opened at $129.40 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. The firm’s 50 day moving average price is $137.54 and its two-hundred day moving average price is $132.15. The stock has a market cap of $38.82 billion, a price-to-earnings ratio of 41.21 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. On average, analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Transactions at CBRE Group

In other news, insider Chad J. Doellinger sold 797 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the transaction, the insider now directly owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. The trade was a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the transaction, the chief financial officer now owns 107,343 shares of the company’s stock, valued at $13,491,941.67. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $155.00 to $152.00 in a research report on Friday, January 24th. The Goldman Sachs Group began coverage on CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 price target for the company. Morgan Stanley increased their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI lowered their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

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.