Pzena Investment Management LLC Grows Stake in CBRE Group, Inc. (NYSE:CBRE)

Pzena Investment Management LLC boosted its holdings in CBRE Group, Inc. (NYSE:CBRE) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 672,242 shares of the financial services provider’s stock after purchasing an additional 351 shares during the quarter. Pzena Investment Management LLC’s holdings in CBRE Group were worth $62,579,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its holdings in shares of CBRE Group by 5.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 602 shares during the last quarter. Teacher Retirement System of Texas raised its position in CBRE Group by 2.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 24,083 shares of the financial services provider’s stock valued at $1,779,000 after purchasing an additional 584 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in CBRE Group by 14.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,001 shares of the financial services provider’s stock valued at $517,000 after purchasing an additional 910 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in CBRE Group by 3.5% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 15,916 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 532 shares during the period. Finally, Machina Capital S.A.S. purchased a new position in CBRE Group during the 3rd quarter worth $244,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Trading Down 0.7 %

NYSE:CBRE traded down $0.65 on Wednesday, reaching $89.77. The stock had a trading volume of 873,569 shares, compared to its average volume of 1,649,898. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month high of $98.65. The company has a market cap of $27.54 billion, a price-to-earnings ratio of 28.17 and a beta of 1.44. The firm’s fifty day moving average is $90.95 and its two-hundred day moving average is $87.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.15 and a quick ratio of 1.15.

CBRE Group (NYSE:CBRE) last announced its earnings results on Friday, May 3rd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. The firm had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.94 billion. CBRE Group had a net margin of 3.06% and a return on equity of 12.96%. CBRE Group’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. Equities analysts expect that CBRE Group, Inc. will post 4.49 EPS for the current fiscal year.

Insider Activity

In related news, CFO Emma E. Giamartino sold 2,667 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total transaction of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares in the company, valued at $6,766,895.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO John E. Durburg sold 25,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the transaction, the chief executive officer now directly owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the transaction, the chief financial officer now owns 72,350 shares in the company, valued at approximately $6,766,895.50. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CBRE. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 target price for the company. StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods boosted their target price on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a report on Friday, February 16th. TheStreet raised CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Finally, Raymond James lifted their price objective on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CBRE Group currently has an average rating of “Hold” and a consensus target price of $99.50.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis 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.