Geode Capital Management LLC Boosts Holdings in CBRE Group, Inc. (NYSE:CBRE)

Geode Capital Management LLC increased its holdings in CBRE Group, Inc. (NYSE:CBRE) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,904,316 shares of the financial services provider’s stock after purchasing an additional 245,821 shares during the quarter. Geode Capital Management LLC owned 2.58% of CBRE Group worth $1,035,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI grew its holdings in shares of CBRE Group by 8.0% in the fourth quarter. National Bank of Canada FI now owns 152,318 shares of the financial services provider’s stock worth $19,997,000 after purchasing an additional 11,340 shares during the last quarter. HighPoint Advisor Group LLC increased its position in shares of CBRE Group by 3.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,259 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 119 shares during the period. Franklin Resources Inc. raised its stake in shares of CBRE Group by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider’s stock valued at $538,390,000 after acquiring an additional 605,403 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of CBRE Group during the fourth quarter worth about $213,000. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of CBRE Group by 125.8% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 14,586 shares of the financial services provider’s stock worth $1,915,000 after purchasing an additional 8,126 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Stock Performance

Shares of CBRE opened at $133.57 on Thursday. 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 stock has a market cap of $40.08 billion, a P/E ratio of 42.54 and a beta of 1.42. The business’s 50 day moving average price is $137.10 and its 200-day moving average price is $132.55. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. Equities research analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CBRE shares. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Evercore ISI cut their price target 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. Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price target for the company. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $149.89.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was 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 of the company’s stock, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total value 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. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.