Central Pacific Bank Trust Division Makes New $79,000 Investment in CBRE Group, Inc. (NYSE:CBRE)

Central Pacific Bank Trust Division purchased a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 600 shares of the financial services provider’s stock, valued at approximately $79,000.

Other hedge funds have also made changes to their positions in the company. Canton Hathaway LLC purchased a new stake in shares of CBRE Group in the third quarter worth approximately $27,000. American National Bank & Trust purchased a new stake in CBRE Group in the 3rd quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of CBRE Group during the 3rd quarter valued at $32,000. Wolff Wiese Magana LLC grew its holdings in shares of CBRE Group by 2,830.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 283 shares in the last quarter. Finally, Asset Dedication LLC acquired a new position in shares of CBRE Group in the third quarter worth $40,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

CBRE has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective for the company. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Evercore ISI lifted their target price on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $133.00 to $152.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

CBRE Group Price Performance

NYSE CBRE opened at $131.50 on Monday. CBRE Group, Inc. has a 1 year low of $82.75 and a 1 year high of $142.00. The company has a fifty day simple moving average of $133.90 and a 200 day simple moving average of $118.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $40.24 billion, a P/E ratio of 42.28 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. On average, sell-side analysts predict that CBRE Group, Inc. will post 4.99 EPS for the current year.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. This represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by corporate insiders.

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.