KLP Kapitalforvaltning AS Makes New Investment in CBRE Group, Inc. (NYSE:CBRE)

KLP Kapitalforvaltning AS bought a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 104,551 shares of the financial services provider’s stock, valued at approximately $13,727,000.

Several other hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in shares of CBRE Group by 5.4% during the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after purchasing an additional 692,697 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CBRE Group by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after purchasing an additional 56,888 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of CBRE Group by 2.4% during the 4th quarter. Principal Financial Group Inc. now owns 7,601,790 shares of the financial services provider’s stock worth $998,039,000 after purchasing an additional 177,119 shares during the last quarter. FMR LLC increased its stake in shares of CBRE Group by 85.6% during the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Finally, Cantillon Capital Management LLC increased its stake in shares of CBRE Group by 0.5% during the 4th quarter. Cantillon Capital Management LLC now owns 4,748,386 shares of the financial services provider’s stock worth $623,416,000 after purchasing an additional 25,142 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Down 0.3 %

CBRE opened at $129.76 on Monday. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The firm has a market capitalization of $38.93 billion, a P/E ratio of 41.32 and a beta of 1.42. The company has a fifty day moving average price of $137.34 and a 200-day moving average price of $131.76.

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

Wall Street Analyst Weigh In

CBRE has been the subject of several research analyst reports. Morgan Stanley raised their price target on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $155.00 to $152.00 in a research note on Friday, January 24th. The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.89.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group 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 sale, the chief financial officer now directly owns 107,343 shares of the company’s stock, valued at approximately $13,491,941.67. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction 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 sale, the insider now directly owns 28,735 shares of the company’s stock, valued at $3,629,517.85. This 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 insiders.

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.