Optas LLC Invests $204,000 in CBRE Group, Inc. (NYSE:CBRE)

Optas LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,561 shares of the financial services provider’s stock, valued at approximately $204,000.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley reiterated an “overweight” rating and set a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. UBS Group decreased their price objective on CBRE Group from $146.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods raised their price target on 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, JPMorgan Chase & Co. lowered their price target on CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.33.

Insider Transactions at CBRE Group

In related news, insider Chad J. Doellinger sold 494 shares of the business’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 completion of the sale, the insider now directly owns 27,945 shares in the company, valued at $3,522,467.25. The trade was a 1.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the sale, the chief financial officer now owns 105,371 shares of the company’s stock, valued at $13,603,396.10. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,599 shares of company stock worth $333,600. 0.42% of the stock is owned by company insiders.

CBRE Group Stock Up 0.7%

NYSE:CBRE opened at $133.96 on Tuesday. The firm has a market capitalization of $39.93 billion, a price-to-earnings ratio of 42.66 and a beta of 1.29. CBRE Group, Inc. has a twelve month low of $85.74 and a twelve month high of $147.75. The stock’s 50 day moving average price is $124.60 and its two-hundred day moving average price is $130.97. 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 (NYSE:CBRE) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The company had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

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.