Wellington Management Group LLP Acquires 2,799,097 Shares of CBRE Group, Inc. (NYSE:CBRE)

Wellington Management Group LLP increased its holdings in CBRE Group, Inc. (NYSE:CBRE) by 164.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,505,177 shares of the financial services provider’s stock after buying an additional 2,799,097 shares during the period. Wellington Management Group LLP owned 1.47% of CBRE Group worth $419,387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CBRE. Turtle Creek Wealth Advisors LLC bought a new stake in shares of CBRE Group during the 4th quarter worth $45,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of CBRE Group by 190.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 497 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 326 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of CBRE Group during the 4th quarter worth $48,000. Planned Solutions Inc. bought a new stake in shares of CBRE Group during the 4th quarter worth $52,000. Finally, Headinvest LLC bought a new stake in shares of CBRE Group during the 3rd quarter worth $44,000. 98.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CBRE shares. Jefferies Financial Group started coverage on shares of CBRE Group in a research report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price on the stock. Evercore ISI lifted their target price on shares of CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CBRE Group currently has an average rating of “Hold” and a consensus target price of $99.50.

CBRE Group Price Performance

CBRE stock opened at $86.90 on Monday. The firm’s 50-day moving average price is $88.01 and its two-hundred day moving average price is $89.06. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month high of $98.65. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 27.07 and a beta of 1.41. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. CBRE Group had a net margin of 3.06% and a return on equity of 12.96%. The firm had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that CBRE Group, Inc. will post 4.5 earnings per share for the current year.

CBRE Group Company 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.