Everence Capital Management Inc. Makes New Investment in CBRE Group, Inc. (NYSE:CBRE)

Everence Capital Management Inc. purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 39,283 shares of the financial services provider’s stock, valued at approximately $3,108,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in shares of CBRE Group by 92.2% during the 4th quarter. Baillie Gifford & Co. now owns 11,141,718 shares of the financial services provider’s stock valued at $698,808,000 after acquiring an additional 5,345,602 shares during the period. Norges Bank acquired a new stake in shares of CBRE Group during the 4th quarter valued at about $238,792,000. FMR LLC grew its position in shares of CBRE Group by 10.6% during the 4th quarter. FMR LLC now owns 14,169,183 shares of the financial services provider’s stock valued at $888,691,000 after acquiring an additional 1,355,280 shares during the period. Cibc World Markets Corp grew its position in shares of CBRE Group by 1,500.1% during the 4th quarter. Cibc World Markets Corp now owns 646,169 shares of the financial services provider’s stock valued at $40,528,000 after acquiring an additional 605,786 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its position in shares of CBRE Group by 72.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,366,972 shares of the financial services provider’s stock valued at $85,735,000 after acquiring an additional 575,564 shares during the period. 93.18% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on CBRE shares. JPMorgan Chase & Co. raised their target price on CBRE Group from $52.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, December 21st. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research note on Monday, January 25th. They issued a “buy” rating and a $74.00 price target on the stock. Raymond James raised their price target on shares of CBRE Group from $59.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. Finally, Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Thursday, February 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. CBRE Group has an average rating of “Hold” and a consensus target price of $61.57.

CBRE traded up $0.20 during trading on Thursday, reaching $78.60. The company’s stock had a trading volume of 22,818 shares, compared to its average volume of 1,847,681. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $76.98 and a two-hundred day simple moving average of $63.00. CBRE Group, Inc. has a 1 year low of $33.03 and a 1 year high of $82.05. The company has a market cap of $26.38 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.77 and a beta of 1.57.

CBRE Group (NYSE:CBRE) last released its earnings results on Monday, February 22nd. The financial services provider reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.51. CBRE Group had a net margin of 4.48% and a return on equity of 16.83%. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period last year, the company posted $1.32 EPS. The business’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that CBRE Group, Inc. will post 2.77 EPS for the current fiscal year.

In other news, insider Chandra Dhandapani sold 7,773 shares of the firm’s stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $77.59, for a total transaction of $603,107.07. Following the completion of the sale, the insider now owns 84,584 shares in the company, valued at approximately $6,562,872.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert E. Sulentic sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $79.33, for a total transaction of $2,379,900.00. Following the sale, the chief executive officer now owns 864,947 shares of the company’s stock, valued at approximately $68,616,245.51. The disclosure for this sale can be found here. Insiders sold a total of 38,068 shares of company stock worth $3,005,639 over the last three months. Corporate insiders own 0.80% of the company’s stock.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through 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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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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