Teacher Retirement System of Texas Buys 373,577 Shares of CBRE Group, Inc. (NYSE:CBRE)

Teacher Retirement System of Texas lifted its holdings in CBRE Group, Inc. (NYSE:CBRE) by 132.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 656,429 shares of the financial services provider’s stock after acquiring an additional 373,577 shares during the period. Teacher Retirement System of Texas owned 0.21% of CBRE Group worth $86,183,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Algert Global LLC bought a new position in shares of CBRE Group in the third quarter worth about $1,829,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of CBRE Group in the fourth quarter worth about $1,518,000. Merit Financial Group LLC bought a new position in shares of CBRE Group in the fourth quarter worth about $256,000. Fulton Bank N.A. boosted its stake in shares of CBRE Group by 342.0% in the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after acquiring an additional 19,227 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of CBRE Group by 17,304.5% in the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 3,807 shares during the period. Institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

CBRE stock opened at $128.73 on Thursday. The stock has a market cap of $38.62 billion, a PE ratio of 41.00 and a beta of 1.42. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The company has a 50-day moving average price of $137.21 and a 200 day moving average price of $131.44. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

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

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the completion of the sale, the chief financial officer now directly owns 107,343 shares of the company’s stock, valued at $13,491,941.67. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chad J. Doellinger sold 797 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 in the company, valued at approximately $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CBRE has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. Evercore ISI decreased their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $120.00 to $163.00 in a research report on Monday, December 16th. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research report on Friday, December 6th. They issued a “buy” rating and a $176.00 price target on the stock. Finally, Raymond James lowered shares of 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. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $149.89.

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.