Fifth Third Wealth Advisors LLC Takes Position in CBRE Group, Inc. (NYSE:CBRE)

Fifth Third Wealth Advisors LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,894 shares of the financial services provider’s stock, valued at approximately $258,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new position in shares of CBRE Group during the first quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its stake in CBRE Group by 44.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 165 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of CBRE Group during the 4th quarter valued at $59,000. Spartan Planning & Wealth Management bought a new position in shares of CBRE Group during the 4th quarter valued at $78,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of CBRE Group by 18.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 941 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Up 0.1 %

Shares of CBRE Group stock traded up $0.15 on Thursday, reaching $112.39. 59,464 shares of the company were exchanged, compared to its average volume of 1,651,854. The stock’s 50 day moving average price is $98.77 and its 200-day moving average price is $93.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $34.48 billion, a P/E ratio of 34.87 and a beta of 1.40. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $114.51.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data 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. The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. CBRE Group’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, equities analysts forecast that CBRE Group, Inc. will post 4.84 EPS for the current year.

Insiders Place Their Bets

In related news, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares in the company, valued at approximately $5,739,328. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Lindsey S. Caplan sold 2,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the transaction, the chief accounting officer now directly owns 16,606 shares of the company’s stock, valued at $1,824,501.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares in the company, valued at $5,739,328. The disclosure for this sale can be found here. Insiders have sold 17,232 shares of company stock worth $1,912,087 in the last three months. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CBRE. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. Morgan Stanley began coverage on shares of CBRE Group in a research report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, UBS Group decreased their target price on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CBRE Group presently has an average rating of “Moderate Buy” and a consensus price target of $110.29.

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.