Prospera Financial Services Inc Makes New $201,000 Investment in CBRE Group Inc (NYSE:CBRE)

Prospera Financial Services Inc purchased a new position in shares of CBRE Group Inc (NYSE:CBRE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,100 shares of the financial services provider’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in shares of CBRE Group by 0.7% in the 2nd quarter. CIBC Asset Management Inc now owns 28,854 shares of the financial services provider’s stock valued at $1,480,000 after purchasing an additional 206 shares during the last quarter. Tocqueville Asset Management L.P. lifted its holdings in shares of CBRE Group by 0.5% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 49,775 shares of the financial services provider’s stock valued at $2,553,000 after purchasing an additional 245 shares during the last quarter. Securian Asset Management Inc lifted its holdings in shares of CBRE Group by 0.8% in the 2nd quarter. Securian Asset Management Inc now owns 32,117 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 253 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of CBRE Group by 2.3% in the 2nd quarter. Keybank National Association OH now owns 11,544 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 258 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of CBRE Group by 0.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 68,862 shares of the financial services provider’s stock valued at $3,533,000 after purchasing an additional 307 shares during the last quarter. 93.82% of the stock is owned by institutional investors.

CBRE stock traded down $0.10 during trading on Friday, hitting $53.75. The company had a trading volume of 1,307,718 shares, compared to its average volume of 1,463,798. The firm has a market cap of $18.13 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.31 and a beta of 1.71. CBRE Group Inc has a 1-year low of $37.45 and a 1-year high of $56.47. The firm has a 50-day moving average price of $52.50 and a 200-day moving average price of $50.85. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.51.

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

In other CBRE Group news, insider Robert E. Sulentic sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the transaction, the insider now owns 829,011 shares in the company, valued at approximately $41,450,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James R. Groch sold 50,000 shares of the business’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 value of $2,756,500.00. Following the transaction, the insider now owns 404,918 shares in the company, valued at approximately $22,323,129.34. The disclosure for this sale can be found here. Insiders sold a total of 3,090,000 shares of company stock worth $166,336,500 in the last 90 days. 0.74% of the stock is currently owned by insiders.

Several research firms have recently weighed in on CBRE. Compass Point began coverage on CBRE Group in a report on Wednesday, July 10th. They issued a “neutral” rating and a $54.00 target price for the company. Raymond James boosted their price target on CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, UBS Group boosted their price target on CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. CBRE Group presently has an average rating of “Buy” and an average price target of $57.40.

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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