Frank Rimerman Advisors LLC Takes $371,000 Position in CBRE Group, Inc. (NYSE:CBRE)

Frank Rimerman Advisors LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,162 shares of the financial services provider’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CBRE. Crewe Advisors LLC acquired a new position in CBRE Group in the 1st quarter worth about $30,000. Benjamin F. Edwards & Company Inc. increased its holdings in CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after buying an additional 215 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in CBRE Group by 44.8% during the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 165 shares in the last quarter. EdgeRock Capital LLC bought a new position in CBRE Group during the second quarter valued at approximately $75,000. Finally, Spartan Planning & Wealth Management acquired a new stake in CBRE Group in the fourth quarter valued at approximately $78,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now directly owns 217,094 shares in the company, valued at $24,894,168.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the transaction, the chief operating officer now owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,232 shares of company stock worth $3,058,787. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CBRE. Raymond James raised their price target on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $100.00 to $123.00 in a report on Friday, July 26th. UBS Group decreased their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Morgan Stanley initiated coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price for the company. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Stock Performance

Shares of NYSE CBRE opened at $123.36 on Wednesday. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $123.59. The company has a market cap of $37.85 billion, a P/E ratio of 38.43 and a beta of 1.40. The business’s 50 day moving average is $112.07 and its two-hundred day moving average is $97.75. 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 earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. 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 previous year, the firm posted $0.82 earnings per share. CBRE Group’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that CBRE Group, Inc. will post 4.81 EPS 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.