Grove Bank & Trust Raises Holdings in CBRE Group, Inc. (NYSE:CBRE)

Grove Bank & Trust grew its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 34.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 987 shares of the financial services provider’s stock after purchasing an additional 254 shares during the quarter. Grove Bank & Trust’s holdings in CBRE Group were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Canton Hathaway LLC purchased a new stake in CBRE Group during the 3rd quarter worth about $27,000. American National Bank & Trust purchased a new stake in CBRE Group during the 3rd quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new stake in CBRE Group during the 3rd quarter worth about $32,000. Wolff Wiese Magana LLC lifted its holdings in CBRE Group by 2,830.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 283 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in CBRE Group during the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CBRE. Citigroup increased their price objective on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods upped their target price on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 target price on the stock. Morgan Stanley upgraded CBRE Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $115.00 to $160.00 in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.44.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. This represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

CBRE Group Price Performance

Shares of CBRE Group stock opened at $137.02 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $41.93 billion, a PE ratio of 44.06 and a beta of 1.39. The business’s 50-day moving average price is $133.43 and its 200-day moving average price is $121.56. CBRE Group, Inc. has a 12 month low of $82.75 and a 12 month high of $142.00.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.14. The company had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. Sell-side analysts forecast that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

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.