Westpac Banking Corp Boosts Stake in CBRE Group, Inc. (NYSE:CBRE)

Westpac Banking Corp lifted its position in CBRE Group, Inc. (NYSE:CBREFree Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,847 shares of the financial services provider’s stock after acquiring an additional 2,444 shares during the period. Westpac Banking Corp’s holdings in CBRE Group were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of CBRE Group during the fourth quarter worth approximately $844,000. AJOVista LLC acquired a new stake in shares of CBRE Group in the fourth quarter valued at about $208,000. SG Americas Securities LLC lifted its stake in shares of CBRE Group by 795.4% in the fourth quarter. SG Americas Securities LLC now owns 140,795 shares of the financial services provider’s stock worth $13,107,000 after buying an additional 125,071 shares in the last quarter. DNB Asset Management AS boosted its position in CBRE Group by 37.9% during the fourth quarter. DNB Asset Management AS now owns 128,636 shares of the financial services provider’s stock worth $11,975,000 after acquiring an additional 35,386 shares during the last quarter. Finally, Advisor Resource Council acquired a new position in CBRE Group during the fourth quarter worth about $1,083,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. Jefferies Financial Group started coverage on CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective on the stock. TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Raymond James lifted their target price on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CBRE Group has a consensus rating of “Hold” and a consensus target price of $99.50.

View Our Latest Report on CBRE

Insider Activity at CBRE Group

In related news, CEO Chandra Dhandapani sold 11,925 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.03, for a total value of $1,121,307.75. Following the sale, the chief executive officer now owns 127,064 shares of the company’s stock, valued at $11,947,827.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Chandra Dhandapani sold 11,925 shares of CBRE Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the completion of the sale, the chief executive officer now directly owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 2,667 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,592 shares of company stock worth $3,675,752. Company insiders own 0.54% of the company’s stock.

CBRE Group Trading Up 3.0 %

CBRE traded up $2.70 during mid-day trading on Wednesday, hitting $91.42. 849,434 shares of the stock were exchanged, compared to its average volume of 1,643,228. The firm’s fifty day moving average is $91.16 and its two-hundred day moving average is $87.04. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $98.65. The company has a market cap of $28.05 billion, a PE ratio of 28.33 and a beta of 1.44. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBREGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $7.94 billion. CBRE Group had a net margin of 3.06% and a return on equity of 12.96%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. Equities analysts forecast that CBRE Group, Inc. will post 4.47 earnings per share for the current fiscal year.

CBRE Group Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBREFree Report).

Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.