Wright Investors Service Inc. Invests $2.88 Million in CBRE Group Inc (NYSE:CBRE)

Wright Investors Service Inc. acquired a new position in shares of CBRE Group Inc (NYSE:CBRE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 56,171 shares of the financial services provider’s stock, valued at approximately $2,882,000. CBRE Group accounts for about 1.1% of Wright Investors Service Inc.’s investment portfolio, making the stock its 26th biggest holding.

Other large investors also recently bought and sold shares of the company. NumerixS Investment Technologies Inc increased its stake in CBRE Group by 332.9% in the first quarter. NumerixS Investment Technologies Inc now owns 23,350 shares of the financial services provider’s stock valued at $1,142,000 after acquiring an additional 17,956 shares during the period. Rockefeller Capital Management L.P. bought a new stake in CBRE Group in the first quarter valued at about $150,000. Greenleaf Trust bought a new stake in CBRE Group in the first quarter valued at about $258,000. Hexavest Inc. bought a new stake in CBRE Group in the second quarter valued at about $30,000. Finally, Park Avenue Securities LLC increased its stake in CBRE Group by 8.4% in the second quarter. Park Avenue Securities LLC now owns 6,631 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 512 shares during the period. Institutional investors own 93.28% of the company’s stock.

In other news, CEO Robert E. Sulentic sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer now directly owns 841,601 shares in the company, valued at $42,080,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James R. Groch sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $55.13, for a total transaction of $2,756,500.00. Following the transaction, the insider now owns 404,918 shares in the company, valued at $22,323,129.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,514 shares of company stock worth $5,159,012. Company insiders own 0.74% of the company’s stock.

A number of analysts recently weighed in on CBRE shares. UBS Group upped their target price on shares of CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday. Raymond James upped their target price on shares of CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Compass Point started coverage on shares of CBRE Group in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $54.00 target price on the stock. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. CBRE Group presently has an average rating of “Buy” and an average price target of $57.83.

NYSE:CBRE traded up $0.62 on Thursday, reaching $50.48. The stock had a trading volume of 57,845 shares, compared to its average volume of 1,272,127. The firm has a market cap of $17.66 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.27 and a beta of 1.70. CBRE Group Inc has a 1-year low of $37.45 and a 1-year high of $56.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.09 and a quick ratio of 1.16. The stock’s fifty day simple moving average is $52.44.

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, beating the Zacks’ consensus estimate of $0.78 by $0.03. The firm had revenue of $5.71 billion for 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 revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. As a group, equities analysts anticipate that CBRE Group Inc will post 3.75 EPS for the current year.

CBRE Group Profile

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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