Silvant Capital Management LLC bought a new position in CBRE Group, Inc. (NYSE:CBRE – Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 14,551 shares of the financial services provider’s stock, valued at approximately $2,293,000.
Several other hedge funds have also added to or reduced their stakes in the business. DigitalBridge Group Inc. lifted its stake in CBRE Group by 3.9% in the third quarter. DigitalBridge Group Inc. now owns 59,600 shares of the financial services provider’s stock worth $9,391,000 after purchasing an additional 2,250 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of CBRE Group by 865.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,997 shares of the financial services provider’s stock valued at $4,252,000 after buying an additional 24,200 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of CBRE Group by 1.7% in the third quarter. NewEdge Advisors LLC now owns 4,367 shares of the financial services provider’s stock worth $688,000 after buying an additional 71 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of CBRE Group by 1.5% in the third quarter. CANADA LIFE ASSURANCE Co now owns 276,868 shares of the financial services provider’s stock worth $44,011,000 after buying an additional 4,126 shares during the period. Finally, Caxton Associates LLP lifted its stake in shares of CBRE Group by 51.6% in the 3rd quarter. Caxton Associates LLP now owns 18,256 shares of the financial services provider’s stock valued at $2,876,000 after acquiring an additional 6,211 shares during the last quarter. 98.41% of the stock is owned by institutional investors.
CBRE Group Stock Performance
Shares of CBRE stock opened at $136.30 on Wednesday. The firm has a market capitalization of $40.23 billion, a price-to-earnings ratio of 35.31 and a beta of 1.33. The stock has a fifty day moving average of $155.02 and a 200 day moving average of $157.42. CBRE Group, Inc. has a 52 week low of $108.45 and a 52 week high of $174.27. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.55.
Insider Activity
In related news, CFO Emma E. Giamartino sold 9,223 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $148.61, for a total transaction of $1,370,630.03. Following the transaction, the chief financial officer owned 126,501 shares in the company, valued at $18,799,313.61. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad J. Doellinger sold 471 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $133.51, for a total transaction of $62,883.21. Following the completion of the transaction, the insider directly owned 42,519 shares of the company’s stock, valued at approximately $5,676,711.69. The trade was a 1.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,810 shares of company stock worth $1,448,600 in the last quarter. 0.42% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CBRE shares. UBS Group upgraded CBRE Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $175.00 to $185.00 in a report on Sunday, February 22nd. Keefe, Bruyette & Woods decreased their price target on CBRE Group from $192.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Raymond James Financial set a $180.00 price objective on CBRE Group and gave the company an “outperform” rating in a research report on Thursday, February 12th. Weiss Ratings cut shares of CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 13th. Finally, Wall Street Zen downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Saturday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.86.
Read Our Latest Report on CBRE Group
CBRE Group Profile
CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.
In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.
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