Alpha DNA Investment Management LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,711 shares of the financial services provider’s stock, valued at approximately $135,000.
Several other institutional investors have also added to or reduced their stakes in CBRE. Baillie Gifford & Co. raised its holdings in shares of CBRE Group by 92.2% in the fourth quarter. Baillie Gifford & Co. now owns 11,141,718 shares of the financial services provider’s stock worth $698,808,000 after acquiring an additional 5,345,602 shares during the last quarter. Norges Bank acquired a new position in CBRE Group in the 4th quarter valued at $238,792,000. BlackRock Inc. lifted its stake in shares of CBRE Group by 7.8% during the 1st quarter. BlackRock Inc. now owns 30,518,533 shares of the financial services provider’s stock worth $2,414,321,000 after purchasing an additional 2,216,187 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of CBRE Group by 383.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 2,013,846 shares of the financial services provider’s stock valued at $159,314,000 after purchasing an additional 1,596,982 shares during the period. Finally, FMR LLC increased its stake in CBRE Group by 10.6% in the fourth quarter. FMR LLC now owns 14,169,183 shares of the financial services provider’s stock valued at $888,691,000 after purchasing an additional 1,355,280 shares during the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.
NYSE CBRE opened at $88.02 on Friday. CBRE Group, Inc. has a 52 week low of $41.03 and a 52 week high of $90.21. The firm has a market capitalization of $29.54 billion, a PE ratio of 35.21, a P/E/G ratio of 2.08 and a beta of 1.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average price is $84.79.
Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a report on Thursday, May 13th. Raymond James boosted their price objective on shares of CBRE Group from $89.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, May 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $75.20.
In related news, CEO Robert E. Sulentic sold 30,000 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $79.33, for a total transaction of $2,379,900.00. Following the transaction, the chief executive officer now directly owns 864,947 shares in the company, valued at $68,616,245.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chandra Dhandapani sold 11,000 shares of the firm’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $84.93, for a total value of $934,230.00. Following the transaction, the insider now owns 77,636 shares in the company, valued at $6,593,625.48. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.
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