Edgestream Partners L.P. Takes $1.46 Million Position in CBRE Group, Inc. (NYSE:CBRE)

Edgestream Partners L.P. acquired a new stake in CBRE Group, Inc. (NYSE:CBRE) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,384 shares of the financial services provider’s stock, valued at approximately $1,460,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of CBRE Group during the first quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its position in shares of CBRE Group by 44.8% during the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 165 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of CBRE Group during the second quarter worth approximately $75,000. Spartan Planning & Wealth Management purchased a new stake in shares of CBRE Group during the fourth quarter worth approximately $78,000. Finally, Rothschild Investment LLC purchased a new stake in shares of CBRE Group during the second quarter worth approximately $80,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $121.60 on Friday. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $122.59. The business’s fifty day simple moving average is $111.03 and its 200-day simple moving average is $97.27. The firm has a market cap of $37.31 billion, a PE ratio of 37.88 and a beta of 1.40. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that CBRE Group, Inc. will post 4.81 earnings per share for the current year.

Insider Activity

In related news, CAO Lindsey S. Caplan sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $109.87, for a total value of $219,740.00. Following the sale, the chief accounting officer now owns 16,606 shares in the company, valued at approximately $1,824,501.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Lindsey S. Caplan sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $109.87, for a total value of $219,740.00. Following the sale, the chief accounting officer now owns 16,606 shares in the company, valued at approximately $1,824,501.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Emma E. Giamartino sold 3,311 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $360,534.79. Following the completion of the sale, the chief financial officer now owns 71,969 shares in the company, valued at approximately $7,836,704.41. The disclosure for this sale can be found here. Insiders have sold a total of 27,232 shares of company stock valued at $3,058,787 in the last quarter. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CBRE shares. Raymond James boosted their price target on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. UBS Group lowered their price objective on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley started coverage on CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Finally, Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.33.

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.