Bank of Montreal Can Acquires 230,684 Shares of CBRE Group, Inc. (NYSE:CBRE)

Bank of Montreal Can boosted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 61.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 607,696 shares of the financial services provider’s stock after buying an additional 230,684 shares during the quarter. Bank of Montreal Can’s holdings in CBRE Group were worth $74,850,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Canton Hathaway LLC bought a new stake in shares of CBRE Group in the third quarter valued at $27,000. American National Bank & Trust bought a new stake in CBRE Group in the 3rd quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. lifted its holdings in CBRE Group by 190.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in CBRE Group during the third quarter worth about $32,000. Finally, Wolff Wiese Magana LLC boosted its position in CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 283 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CBRE shares. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Citigroup increased their target price on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price target on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Evercore ISI boosted 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. Five analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $123.00.

CBRE Group Price Performance

CBRE stock opened at $140.44 on Wednesday. The firm has a 50 day simple moving average of $127.66 and a two-hundred day simple moving average of $109.52. The stock has a market cap of $42.98 billion, a PE ratio of 45.16 and a beta of 1.39. CBRE Group, Inc. has a one year low of $78.18 and a one year high of $141.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. On average, analysts predict that CBRE Group, Inc. will post 4.94 EPS for the current fiscal year.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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.