SRS Capital Advisors Inc. purchased a new stake in shares of CBRE Group Inc (NYSE:CBRE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,538 shares of the financial services provider’s stock, valued at approximately $156,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of CBRE. Wells Fargo & Company MN bought a new stake in CBRE Group during the third quarter valued at $301,769,000. Sterling Capital Management LLC bought a new position in shares of CBRE Group during the 3rd quarter worth about $142,352,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of CBRE Group during the 3rd quarter worth about $133,879,000. Victory Capital Management Inc. bought a new position in shares of CBRE Group during the 3rd quarter worth about $48,127,000. Finally, Russell Investments Group Ltd. bought a new position in shares of CBRE Group during the 3rd quarter worth about $35,227,000. 94.53% of the stock is currently owned by institutional investors and hedge funds.
CBRE stock opened at $42.99 on Friday. The stock has a market cap of $14.81 billion, a PE ratio of 15.86, a P/E/G ratio of 1.05 and a beta of 1.76. The company has a current ratio of 1.06, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. CBRE Group Inc has a 1 year low of $38.05 and a 1 year high of $50.43.
In related news, CEO William F. Concannon sold 28,878 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $47.47, for a total value of $1,370,838.66. Following the sale, the chief executive officer now owns 204,631 shares in the company, valued at approximately $9,713,833.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.
CBRE has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Barclays increased their price objective on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. Bank of America cut their price objective on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, ValuEngine cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $52.56.
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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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