Corebridge Financial Inc. Has $10.34 Million Position in CBRE Group, Inc. (NYSE:CBRE)

Corebridge Financial Inc. increased its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,742 shares of the financial services provider’s stock after purchasing an additional 1,444 shares during the quarter. Corebridge Financial Inc.’s holdings in CBRE Group were worth $10,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in shares of CBRE Group during the fourth quarter worth $25,000. Denver PWM LLC bought a new stake in CBRE Group during the 4th quarter worth $29,000. Larson Financial Group LLC increased its holdings in CBRE Group by 610.9% in the 4th quarter. Larson Financial Group LLC now owns 327 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 281 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in CBRE Group by 190.4% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 238 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of CBRE Group during the fourth quarter valued at about $58,000. Institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE opened at $132.70 on Thursday. The firm’s fifty day simple moving average is $137.75 and its two-hundred day simple moving average is $132.05. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $39.81 billion, a P/E ratio of 42.26 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping 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%. As a group, analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Transactions at CBRE Group

In related news, insider Chad J. Doellinger sold 797 shares of the stock in a transaction on Tuesday, March 11th. The shares were 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 of the company’s stock, valued at $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods raised their price target 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. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Evercore ISI lowered their target price on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CBRE Group 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.