Mediolanum International Funds Ltd Makes New $8.97 Million Investment in CBRE Group, Inc. (NYSE:CBRE)

Mediolanum International Funds Ltd bought a new stake in CBRE Group, Inc. (NYSE:CBRE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 72,955 shares of the financial services provider’s stock, valued at approximately $8,971,000.

A number of other large investors also recently made changes to their positions in CBRE. Wealthcare Advisory Partners LLC purchased a new stake in shares of CBRE Group during the 1st quarter worth about $314,000. Wealth Enhancement Advisory Services LLC increased its holdings in CBRE Group by 20.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,224 shares of the financial services provider’s stock worth $1,480,000 after buying an additional 2,615 shares during the last quarter. Azzad Asset Management Inc. ADV raised its position in CBRE Group by 35.9% during the first quarter. Azzad Asset Management Inc. ADV now owns 34,246 shares of the financial services provider’s stock valued at $3,330,000 after acquiring an additional 9,052 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in CBRE Group by 39.0% in the first quarter. First Trust Direct Indexing L.P. now owns 8,273 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 2,323 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in CBRE Group by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 10,700 shares of the financial services provider’s stock worth $1,041,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of NYSE CBRE opened at $132.54 on Friday. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $136.06. The company has a market cap of $40.67 billion, a P/E ratio of 41.29 and a beta of 1.40. The business’s 50 day moving average is $119.43 and its two-hundred day moving average is $101.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. CBRE Group’s revenue was up 14.8% compared to the same quarter last year. On average, equities analysts expect that CBRE Group, Inc. will post 4.81 EPS for the current year.

Insider Activity

In related news, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now directly owns 217,094 shares in the company, valued at $24,894,168.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. This trade represents a 0.00 % 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 hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares in the company, valued at $24,894,168.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,232 shares of company stock valued at $2,839,047. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CBRE. Morgan Stanley began coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. UBS Group decreased their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Evercore ISI raised their price objective on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods upped their target price on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Finally, Raymond James lifted their price target on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.83.

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.