Turtle Creek Wealth Advisors LLC Makes New Investment in CBRE Group, Inc. (NYSE:CBRE)

Turtle Creek Wealth Advisors LLC bought a new position in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 486 shares of the financial services provider’s stock, valued at approximately $45,000.

Other large investors have also bought and sold shares of the company. Apollon Wealth Management LLC lifted its stake in CBRE Group by 1.7% during the first quarter. Apollon Wealth Management LLC now owns 9,436 shares of the financial services provider’s stock worth $687,000 after purchasing an additional 155 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of CBRE Group by 0.3% in the 1st quarter. CIBC Asset Management Inc now owns 46,601 shares of the financial services provider’s stock worth $3,393,000 after purchasing an additional 159 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in CBRE Group by 6.4% in the 3rd quarter. Schechter Investment Advisors LLC now owns 2,787 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 168 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of CBRE Group by 3.7% during the 1st quarter. NewEdge Advisors LLC now owns 5,092 shares of the financial services provider’s stock valued at $371,000 after buying an additional 180 shares during the period. Finally, Belpointe Asset Management LLC lifted its holdings in shares of CBRE Group by 57.4% during the 1st quarter. Belpointe Asset Management LLC now owns 499 shares of the financial services provider’s stock valued at $36,000 after buying an additional 182 shares during the period. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,667 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the sale, the chief financial officer now directly owns 72,350 shares in the company, valued at approximately $6,766,895.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John E. Durburg sold 25,000 shares of CBRE Group stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the sale, the chief executive officer now directly owns 207,856 shares in the company, valued at approximately $19,164,323.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction on Monday, March 11th. The stock was sold at an average price of $93.53, for a total transaction of $249,444.51. Following the sale, the chief financial officer now owns 72,350 shares in the company, valued at $6,766,895.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,592 shares of company stock worth $3,675,752. 0.53% of the stock is currently owned by corporate insiders.

CBRE Group Stock Performance

Shares of CBRE stock opened at $90.68 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.31. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $98.65. The stock has a market capitalization of $27.72 billion, a PE ratio of 28.61 and a beta of 1.42. The firm has a 50 day moving average of $92.24 and a two-hundred day moving average of $84.27.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The business had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business earned $1.33 EPS. The company’s revenue was up 9.2% on a year-over-year basis. On average, research analysts predict that CBRE Group, Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Jefferies Financial Group started coverage on shares of CBRE Group in a research note on Wednesday. They issued a “hold” rating and a $107.00 price objective for the company. Finally, Raymond James upped their price target on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group has a consensus rating of “Hold” and a consensus price target of $99.50.

CBRE Group 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.