Morey & Quinn Wealth Partners LLC Buys New Shares in CBRE Group, Inc. (NYSE:CBRE)

Morey & Quinn Wealth Partners LLC purchased a new stake in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,811 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC lifted its position in shares of CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after buying an additional 3,498,244 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in CBRE Group in the 4th quarter valued at about $190,695,000. Manning & Napier Advisors LLC acquired a new stake in CBRE Group during the 4th quarter worth approximately $175,978,000. Los Angeles Capital Management LLC lifted its holdings in shares of CBRE Group by 1,499.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock worth $139,162,000 after buying an additional 993,687 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in CBRE Group by 150.5% in the 4th quarter. American Century Companies Inc. now owns 1,157,720 shares of the financial services provider’s stock valued at $151,997,000 after purchasing an additional 695,558 shares during the period. Institutional investors own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

CBRE has been the topic of several research analyst reports. The Goldman Sachs Group began coverage on CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $163.00 in a report on Monday, December 16th. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $155.00 to $152.00 in a research note on Friday, January 24th. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group Price Performance

CBRE Group stock opened at $133.88 on Wednesday. The stock has a market cap of $40.17 billion, a P/E ratio of 42.64 and a beta of 1.42. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average price is $137.73 and its two-hundred day moving average price is $132.05. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 earnings per share 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%. On average, equities analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the sale, the chief financial officer now owns 107,343 shares of the company’s stock, valued at approximately $13,491,941.67. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $100,669.07. Following the transaction, the insider now directly owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

About CBRE Group

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.