Freestone Capital Holdings LLC boosted its position in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 62.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,254 shares of the financial services provider’s stock after purchasing an additional 3,941 shares during the period. Freestone Capital Holdings LLC’s holdings in CBRE Group were worth $1,113,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CBRE. Amplius Wealth Advisors LLC acquired a new stake in shares of CBRE Group in the fourth quarter valued at approximately $28,000. CVA Family Office LLC bought a new stake in CBRE Group in the 4th quarter valued at $41,000. Confluence Wealth Services Inc. bought a new position in CBRE Group during the fourth quarter worth about $46,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in CBRE Group by 71.7% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 515 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 215 shares during the period. Finally, Covestor Ltd acquired a new stake in shares of CBRE Group in the 4th quarter valued at $66,000. Institutional investors and hedge funds own 96.30% of the company’s stock.
In other CBRE Group news, CEO Robert E. Sulentic sold 30,000 shares of the stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $90.09, for a total transaction of $2,702,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel G. Queenan sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $96.86, for a total value of $484,300.00. The disclosure for this sale can be found here. Insiders sold 35,146 shares of company stock valued at $3,201,162 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.
CBRE Group (NYSE:CBRE – Get Rating) last issued its earnings results on Thursday, May 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.29. CBRE Group had a return on equity of 25.00% and a net margin of 6.74%. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.55 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. CBRE Group’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, research analysts expect that CBRE Group, Inc. will post 6.2 EPS for the current fiscal year.
A number of equities analysts have recently commented on CBRE shares. Raymond James reduced their price objective on shares of CBRE Group from $126.00 to $111.00 and set an “outperform” rating for the company in a research note on Tuesday, April 26th. The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Tuesday, April 5th. They issued a “buy” rating and a $111.00 price target for the company. Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating and set a $87.00 price objective on the stock. in a research note on Wednesday, April 27th. Wolfe Research reduced their price objective on CBRE Group from $171.00 to $116.00 and set an “outperform” rating on the stock in a research report on Thursday, March 10th. Finally, StockNews.com assumed coverage on shares of CBRE Group in a report on Thursday, March 31st. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CBRE Group presently has an average rating of “Buy” and a consensus target price of $108.00.
About CBRE Group (Get Rating)
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services for owners of and investors in office, industrial, and retail properties; 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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