Vision Capital Corp Purchases New Stake in CBRE Group, Inc. (NYSE:CBRE)

Vision Capital Corp acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 26,300 shares of the financial services provider’s stock, valued at approximately $3,453,000. CBRE Group makes up approximately 0.6% of Vision Capital Corp’s holdings, making the stock its 13th largest position.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in CBRE Group in the fourth quarter valued at about $514,609,000. Artisan Partners Limited Partnership grew its holdings in shares of CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after purchasing an additional 3,011,566 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in CBRE Group during the 4th quarter worth approximately $190,695,000. Manning & Napier Advisors LLC acquired a new stake in CBRE Group in the fourth quarter valued at approximately $175,978,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of CBRE Group by 11,750.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider’s stock worth $161,876,000 after buying an additional 1,222,558 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CBRE shares. Keefe, Bruyette & Woods cut their price objective on CBRE Group from $145.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday. Morgan Stanley lifted their price target on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Evercore ISI reduced their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and raised their price target for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and an average price target of $149.56.

CBRE Group Stock Up 0.2 %

Shares of NYSE CBRE opened at $117.45 on Monday. CBRE Group, Inc. has a 52-week low of $84.24 and a 52-week high of $147.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. The company’s 50 day moving average price is $129.97 and its 200-day moving average price is $132.11. The company has a market capitalization of $35.22 billion, a P/E ratio of 37.41 and a beta of 1.26.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results 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%. Equities analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the transaction, the chief financial officer now directly owns 107,343 shares of the company’s stock, valued at $13,491,941.67. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction on Tuesday, March 11th. The shares were 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 of the company’s stock, valued at approximately $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

About CBRE Group

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.