Morey & Quinn Wealth Partners LLC Takes $238,000 Position in CBRE Group, Inc. (NYSE:CBRE)

Morey & Quinn Wealth Partners LLC acquired a new position in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,811 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other hedge funds have also recently made changes to their positions in CBRE. SBI Securities Co. Ltd. purchased a new stake in shares of CBRE Group during the fourth quarter worth about $25,000. Denver PWM LLC bought a new position in shares of CBRE Group during the 4th quarter valued at approximately $29,000. Larson Financial Group LLC raised its stake in shares of CBRE Group by 610.9% in the fourth quarter. Larson Financial Group LLC now owns 327 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 281 shares during the period. Catalyst Capital Advisors LLC grew its stake in shares of CBRE Group by 190.4% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock valued at $48,000 after buying an additional 238 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in CBRE Group in the fourth quarter worth $58,000. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

CBRE Group stock opened at $133.88 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $137.73 and its 200 day simple moving average is $132.05. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75. The firm has a market capitalization of $40.17 billion, a PE ratio of 42.64 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. On average, equities research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com upgraded CBRE Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Keefe, Bruyette & Woods raised their target price on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. The Goldman Sachs Group began coverage on CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Finally, Morgan Stanley boosted their price target on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now directly owns 107,343 shares in the company, valued at approximately $13,491,941.67. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chad J. Doellinger sold 797 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the sale, the insider now directly owns 28,735 shares in the company, valued at approximately $3,629,517.85. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

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.