Procyon Advisors LLC Raises Stake in CBRE Group, Inc. (NYSE:CBRE)

Procyon Advisors LLC raised its position in CBRE Group, Inc. (NYSE:CBRE) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,203 shares of the financial services provider’s stock after purchasing an additional 1,120 shares during the period. Procyon Advisors LLC’s holdings in CBRE Group were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Canton Hathaway LLC acquired a new position in shares of CBRE Group during the third quarter worth $27,000. American National Bank & Trust purchased a new stake in CBRE Group during the 3rd quarter worth about $28,000. Benjamin F. Edwards & Company Inc. lifted its holdings in CBRE Group by 190.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after buying an additional 215 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of CBRE Group during the 3rd quarter worth about $32,000. Finally, Wolff Wiese Magana LLC increased its holdings in shares of CBRE Group by 2,830.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 283 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Stock Performance

Shares of CBRE stock opened at $137.02 on Friday. The stock’s 50-day moving average price is $133.43 and its 200 day moving average price is $121.08. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $41.93 billion, a PE ratio of 44.06 and a beta of 1.39. CBRE Group, Inc. has a 52-week low of $82.75 and a 52-week high of $142.00.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that CBRE Group, Inc. will post 4.99 EPS for the current year.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares in the company, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CBRE. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $163.00 in a report on Monday, December 16th. The Goldman Sachs Group began coverage on shares of CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Evercore ISI decreased their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, Morgan Stanley upgraded CBRE Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $160.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.44.

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.