OLD National Bancorp IN Boosts Holdings in CBRE Group, Inc. (NYSE:CBRE)

OLD National Bancorp IN grew its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 29.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,270 shares of the financial services provider’s stock after purchasing an additional 516 shares during the period. OLD National Bancorp IN’s holdings in CBRE Group were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CBRE. SBI Securities Co. Ltd. bought a new stake in CBRE Group during the fourth quarter valued at $25,000. Investment Management Corp VA ADV acquired a new stake in CBRE Group in the fourth quarter worth about $28,000. Denver PWM LLC acquired a new stake in CBRE Group in the fourth quarter worth about $29,000. Colonial Trust Co SC lifted its holdings in CBRE Group by 183.7% in the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 180 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in CBRE Group by 1,400.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

CBRE has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of CBRE Group from $146.00 to $130.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. JPMorgan Chase & Co. reduced their price objective on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley reduced their price objective on shares of CBRE Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.22.

CBRE Group Price Performance

Shares of CBRE stock opened at $132.93 on Wednesday. The firm has a market capitalization of $39.63 billion, a price-to-earnings ratio of 42.33 and a beta of 1.29. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 12-month low of $85.74 and a 12-month high of $147.75. The firm has a fifty day moving average of $123.12 and a 200-day moving average of $131.20.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The firm had revenue of $8.91 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the business earned $0.78 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the transaction, the chief financial officer now owns 105,371 shares in the company, valued at $13,603,396.10. This represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chad J. Doellinger sold 494 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $126.05, for a total value of $62,268.70. Following the sale, the insider now owns 27,945 shares of the company’s stock, valued at approximately $3,522,467.25. This represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,599 shares of company stock valued at $584,980 in the last three months. 0.42% of the stock is currently owned by company 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.