Fiduciary Trust Co. Acquires New Position in CBRE Group Inc (CBRE)

Fiduciary Trust Co. acquired a new stake in shares of CBRE Group Inc (NYSE:CBRE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 24,717 shares of the financial services provider’s stock, valued at approximately $1,223,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CBRE. Lindbrook Capital LLC purchased a new stake in CBRE Group during the 4th quarter valued at about $27,000. Oregon Public Employees Retirement Fund grew its stake in CBRE Group by 1,895.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,377,536 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,308,488 shares in the last quarter. CX Institutional purchased a new stake in CBRE Group during the 1st quarter valued at about $35,000. Van ECK Associates Corp purchased a new stake in CBRE Group during the 4th quarter valued at about $38,000. Finally, Barnett & Company Inc. purchased a new stake in CBRE Group during the 1st quarter valued at about $49,000. 94.48% of the stock is owned by institutional investors.

CBRE has been the subject of several research reports. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, February 19th. JMP Securities reaffirmed a “hold” rating on shares of CBRE Group in a research note on Monday, March 11th. Bank of America set a $54.00 target price on shares of CBRE Group and gave the company a “hold” rating in a report on Friday, March 8th. Finally, William Blair reiterated an “outperform” rating on shares of CBRE Group in a report on Wednesday, February 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.33.

In other news, Director Brandon B. Boze sold 6,700,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $49.51, for a total value of $331,717,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Lafitte sold 32,706 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.54, for a total transaction of $1,652,961.24. Following the completion of the transaction, the chief executive officer now owns 372,946 shares in the company, valued at $18,848,690.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,865,706 shares of company stock worth $340,155,785. Company insiders own 0.74% of the company’s stock.

NYSE:CBRE opened at $46.78 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.19 and a beta of 1.71. CBRE Group Inc has a 1-year low of $37.45 and a 1-year high of $52.41.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.59 by $0.20. CBRE Group had a net margin of 4.94% and a return on equity of 24.72%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the business posted $0.54 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts expect that CBRE Group Inc will post 3.61 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Fiduciary Trust Co. Acquires New Position in CBRE Group Inc (CBRE)” was reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.baseballdailydigest.com/news/2019/05/21/fiduciary-trust-co-acquires-new-position-in-cbre-group-inc-cbre.html.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

Read More: What are economic reports?

Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group Inc (NYSE:CBRE).

Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.