Wilmington Savings Fund Society FSB Makes New Investment in CBRE Group, Inc. (NYSE:CBRE)

Wilmington Savings Fund Society FSB acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 18,715 shares of the financial services provider’s stock, valued at approximately $2,330,000.

Other large investors have also recently added to or reduced their stakes in the company. Algert Global LLC bought a new position in CBRE Group during the 3rd quarter worth $1,829,000. Charles Schwab Investment Management Inc. increased its position in CBRE Group by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,876,724 shares of the financial services provider’s stock worth $233,615,000 after buying an additional 16,202 shares during the period. Prestige Wealth Management Group LLC increased its position in CBRE Group by 17,304.5% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after buying an additional 3,807 shares during the period. Cornerstone Advisors LLC grew its holdings in shares of CBRE Group by 29.9% during the 3rd quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock worth $2,054,000 after purchasing an additional 3,800 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of CBRE Group by 6.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 323,311 shares of the financial services provider’s stock worth $28,810,000 after purchasing an additional 20,717 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

Insider Activity

In other news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

NYSE:CBRE opened at $137.16 on Friday. The stock’s 50-day simple moving average is $131.69 and its 200 day simple moving average is $113.63. CBRE Group, Inc. has a twelve month low of $82.75 and a twelve month high of $142.00. The firm has a market capitalization of $41.97 billion, a PE ratio of 44.10 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period last year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts anticipate that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CBRE shares. Citigroup increased their target price on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods increased their target price on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group started 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, Evercore ISI increased their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.63.

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.