Putnam FL Investment Management Co. Invests $501,000 in CBRE Group Inc (NYSE:CBRE)

Putnam FL Investment Management Co. bought a new position in shares of CBRE Group Inc (NYSE:CBRE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,772 shares of the financial services provider’s stock, valued at approximately $501,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hexavest Inc. acquired a new stake in CBRE Group in the second quarter valued at $30,000. Rational Advisors LLC raised its holdings in shares of CBRE Group by 347.6% during the first quarter. Rational Advisors LLC now owns 640 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 497 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CBRE Group during the second quarter worth $33,000. Carroll Financial Associates Inc. raised its holdings in shares of CBRE Group by 115.7% during the second quarter. Carroll Financial Associates Inc. now owns 798 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 428 shares during the period. Finally, Barnett & Company Inc. acquired a new stake in shares of CBRE Group during the first quarter worth $49,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

CBRE has been the topic of a number of research reports. Raymond James increased their target price on shares of CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Compass Point initiated coverage on shares of CBRE Group in a report on Wednesday, July 10th. They set a “neutral” rating and a $54.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. CBRE Group has an average rating of “Buy” and a consensus target price of $58.00.

Shares of NYSE:CBRE traded down $0.43 on Wednesday, reaching $51.17. 34,294 shares of the company’s stock were exchanged, compared to its average volume of 1,172,570. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.30 and a beta of 1.70. CBRE Group Inc has a fifty-two week low of $37.45 and a fifty-two week high of $56.47. The business has a 50-day simple moving average of $52.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.09 and a quick ratio of 1.16.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.59 billion. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Sell-side analysts anticipate that CBRE Group Inc will post 3.75 EPS for the current year.

In other news, insider James R. Groch sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $55.13, for a total transaction of $2,756,500.00. Following the completion of the transaction, the insider now owns 404,918 shares in the company, valued at $22,323,129.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dara Bazzano sold 1,252 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $47.51, for a total transaction of $59,482.52. Following the transaction, the insider now owns 21,246 shares of the company’s stock, valued at approximately $1,009,397.46. The disclosure for this sale can be found here. Insiders have sold 99,766 shares of company stock valued at $5,218,495 in the last 90 days. Insiders own 0.74% of the company’s stock.

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.

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

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