Prestige Wealth Management Group LLC Has $520,000 Stock Position in CBRE Group, Inc. $CBRE

Prestige Wealth Management Group LLC increased its stake in CBRE Group, Inc. (NYSE:CBRE) by 10,860.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,836 shares of the financial services provider’s stock after purchasing an additional 3,801 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in CBRE Group were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBRE. Swiss RE Ltd. purchased a new stake in CBRE Group during the fourth quarter valued at about $25,000. Navalign LLC acquired a new position in shares of CBRE Group in the fourth quarter worth about $29,000. Ascentis Independent Advisors purchased a new position in shares of CBRE Group in the first quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of CBRE Group in the first quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of CBRE Group during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CBRE. Jefferies Financial Group restated a “buy” rating on shares of CBRE Group in a research report on Friday, May 15th. Weiss Ratings cut shares of CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Evercore set a $169.00 target price on shares of CBRE Group in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods increased their target price on CBRE Group from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, UBS Group reaffirmed a “buy” rating on shares of CBRE Group in a research report on Wednesday, June 17th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,250 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $130.74, for a total transaction of $294,165.00. Following the transaction, the chief financial officer directly owned 110,729 shares in the company, valued at $14,476,709.46. The trade was a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by company insiders.

CBRE Group Stock Performance

CBRE stock opened at $137.16 on Thursday. The firm has a 50 day simple moving average of $134.10 and a 200 day simple moving average of $144.20. CBRE Group, Inc. has a 52 week low of $121.69 and a 52 week high of $174.27. The stock has a market cap of $40.16 billion, a P/E ratio of 31.24 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.48. CBRE Group had a net margin of 3.11% and a return on equity of 24.08%. The firm had revenue of $10.53 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts anticipate that CBRE Group, Inc. will post 7.75 earnings per share for the current fiscal year.

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.