Massachusetts Financial Services Co. MA Acquires 333 Shares of CBRE Group, Inc. (NYSE:CBRE)

Massachusetts Financial Services Co. MA boosted its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,187 shares of the financial services provider’s stock after acquiring an additional 333 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in CBRE Group were worth $5,274,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of CBRE Group by 164.1% in the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after purchasing an additional 2,799,097 shares during the last quarter. Swedbank AB bought a new position in CBRE Group in the 1st quarter worth about $162,576,000. Parnassus Investments LLC purchased a new position in shares of CBRE Group during the fourth quarter worth approximately $104,277,000. Harris Associates L P raised its stake in shares of CBRE Group by 4.5% during the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after acquiring an additional 683,225 shares in the last quarter. Finally, Delta Global Management LP boosted its holdings in shares of CBRE Group by 266.2% in the first quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock valued at $52,877,000 after purchasing an additional 395,297 shares during the period. Institutional investors own 98.41% of the company’s stock.

Insider Activity

In other news, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares in the company, valued at $7,538,019.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the sale, the director now directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the transaction, the chief operating officer now directly 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. Insiders have sold 27,232 shares of company stock valued at $3,058,787 over the last ninety days. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

CBRE Group Stock Performance

Shares of CBRE opened at $121.60 on Friday. The stock has a fifty day moving average price of $111.03 and a 200-day moving average price of $97.30. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $122.59. The firm has a market cap of $37.31 billion, a PE ratio of 37.88 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data 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. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. CBRE Group’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. Equities research analysts predict that CBRE Group, Inc. will post 4.81 earnings per share for the current fiscal year.

About CBRE Group

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.