FinTrust Capital Advisors LLC raised its holdings in CBRE Group Inc (NYSE:CBRE) by 22.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,488 shares of the financial services provider’s stock after acquiring an additional 2,270 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in CBRE Group were worth $640,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CBRE. Cornerstone Investment Partners LLC acquired a new position in CBRE Group in the 2nd quarter valued at approximately $48,418,000. The Manufacturers Life Insurance Company increased its position in shares of CBRE Group by 209.7% during the first quarter. The Manufacturers Life Insurance Company now owns 969,625 shares of the financial services provider’s stock worth $47,948,000 after buying an additional 656,566 shares during the period. Dimensional Fund Advisors LP increased its position in shares of CBRE Group by 34.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,560,714 shares of the financial services provider’s stock worth $102,533,000 after buying an additional 653,165 shares during the period. Marshall Wace North America L.P. increased its position in shares of CBRE Group by 662.3% during the first quarter. Marshall Wace North America L.P. now owns 538,924 shares of the financial services provider’s stock worth $26,650,000 after buying an additional 468,224 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of CBRE Group by 5.5% during the first quarter. Wells Fargo & Company MN now owns 7,371,531 shares of the financial services provider’s stock worth $364,523,000 after buying an additional 384,607 shares during the period. Hedge funds and other institutional investors own 93.28% of the company’s stock.
Shares of CBRE traded up $0.58 during trading hours on Thursday, hitting $50.44. 59,950 shares of the stock were exchanged, compared to its average volume of 1,272,127. CBRE Group Inc has a fifty-two week low of $37.45 and a fifty-two week high of $56.47. The company has a quick ratio of 1.16, a current ratio of 1.09 and a debt-to-equity ratio of 0.59. The business’s 50-day simple moving average is $52.44. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 1.27 and a beta of 1.70.
Several equities research analysts have recently weighed in on the stock. Compass Point assumed coverage on shares of CBRE Group in a research report on Wednesday, July 10th. They set a “neutral” rating and a $54.00 price objective for the company. UBS Group increased their price objective on shares of CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Raymond James increased their price objective on shares of CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $57.83.
In other CBRE Group news, CEO Robert E. Sulentic sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 841,601 shares in the company, valued at $42,080,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James R. Groch sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $55.13, for a total transaction of $2,756,500.00. Following the completion of the sale, the insider now owns 404,918 shares of the company’s stock, valued at $22,323,129.34. The disclosure for this sale can be found here. Insiders sold 98,514 shares of company stock valued at $5,159,012 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.
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