Applied Finance Capital Management LLC Makes New Investment in CBRE Group, Inc. (NYSE:CBRE)

Applied Finance Capital Management LLC purchased a new position in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, Holdings Channel reports. The fund purchased 361,683 shares of the financial services provider’s stock, valued at approximately $47,485,000. CBRE Group makes up about 2.1% of Applied Finance Capital Management LLC’s holdings, making the stock its 17th biggest holding.

A number of other hedge funds have also made changes to their positions in the stock. Bank of Nova Scotia grew its stake in CBRE Group by 30.9% in the 4th quarter. Bank of Nova Scotia now owns 46,604 shares of the financial services provider’s stock valued at $6,119,000 after buying an additional 10,999 shares during the last quarter. FIL Ltd lifted its position in CBRE Group by 32.6% during the 4th quarter. FIL Ltd now owns 1,235,365 shares of the financial services provider’s stock worth $162,191,000 after acquiring an additional 303,811 shares during the last quarter. Shelton Capital Management boosted its holdings in CBRE Group by 10.8% during the fourth quarter. Shelton Capital Management now owns 72,901 shares of the financial services provider’s stock valued at $9,571,000 after acquiring an additional 7,098 shares during the period. Rathbones Group PLC grew its position in shares of CBRE Group by 36.6% in the fourth quarter. Rathbones Group PLC now owns 142,877 shares of the financial services provider’s stock valued at $18,758,000 after purchasing an additional 38,257 shares during the last quarter. Finally, Twin Capital Management Inc. increased its stake in shares of CBRE Group by 3.6% in the fourth quarter. Twin Capital Management Inc. now owns 36,435 shares of the financial services provider’s stock worth $4,784,000 after purchasing an additional 1,257 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley increased their target price on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI reduced their price objective 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. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price target for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Finally, StockNews.com downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.89.

Insider Transactions at CBRE Group

In other CBRE Group news, insider Chad J. Doellinger sold 797 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the sale, the insider now directly owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $125.69, for a total transaction of $251,380.00. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

CBRE Group Trading Down 0.9 %

Shares of CBRE stock opened at $117.01 on Tuesday. The firm has a fifty day moving average of $135.76 and a 200-day moving average of $132.62. The stock has a market cap of $35.11 billion, a price-to-earnings ratio of 37.26 and a beta of 1.26. CBRE Group, Inc. has a 52-week low of $84.24 and a 52-week high of $147.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. On average, equities research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

CBRE Group Company 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.