Sagespring Wealth Partners LLC Raises Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Sagespring Wealth Partners LLC boosted its stake in CBRE Group, Inc. (NYSE:CBRE) by 37.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,393 shares of the financial services provider’s stock after acquiring an additional 930 shares during the period. Sagespring Wealth Partners LLC’s holdings in CBRE Group were worth $444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CBRE. SBI Securities Co. Ltd. purchased a new stake in CBRE Group during the fourth quarter worth about $25,000. Investment Management Corp VA ADV purchased a new stake in shares of CBRE Group during the fourth quarter worth approximately $28,000. Denver PWM LLC purchased a new stake in shares of CBRE Group during the fourth quarter worth approximately $29,000. Colonial Trust Co SC increased its stake in shares of CBRE Group by 183.7% during the fourth quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider’s stock worth $36,000 after buying an additional 180 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of CBRE Group by 1,400.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider’s stock worth $37,000 after buying an additional 266 shares during the period. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Price Performance

CBRE stock opened at $133.35 on Thursday. The company has a market capitalization of $39.75 billion, a P/E ratio of 40.78 and a beta of 1.29. CBRE Group, Inc. has a twelve month low of $85.74 and a twelve month high of $147.75. The business has a 50 day simple moving average of $125.07 and a 200-day simple moving average of $130.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Activity

In related news, insider Chad J. Doellinger sold 494 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $126.05, for a total transaction of $62,268.70. Following the completion of the sale, the insider now directly owns 27,945 shares of the company’s stock, valued at $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the sale, the chief financial officer now directly owns 105,371 shares of the company’s stock, valued at approximately $13,603,396.10. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,599 shares of company stock valued at $333,600. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CBRE. Keefe, Bruyette & Woods upped their target price on shares of CBRE Group from $129.00 to $131.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price target (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. UBS Group lowered their price target on CBRE Group from $146.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and an average price target of $150.33.

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.