Citizens Financial Group Inc. RI Purchases New Position in CBRE Group, Inc. (NYSE:CBRE)

Citizens Financial Group Inc. RI acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 4th quarter, Holdings Channel.com reports. The fund acquired 2,194 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other hedge funds also recently modified their holdings of the company. Harris Associates L P increased its stake in shares of CBRE Group by 4.0% in the 3rd quarter. Harris Associates L P now owns 15,321,916 shares of the financial services provider’s stock valued at $1,131,677,000 after acquiring an additional 586,661 shares during the last quarter. FMR LLC raised its holdings in CBRE Group by 3.1% in the 3rd quarter. FMR LLC now owns 9,465,982 shares of the financial services provider’s stock valued at $699,157,000 after acquiring an additional 288,287 shares in the last quarter. Invesco Ltd. grew its stake in CBRE Group by 0.4% during the third quarter. Invesco Ltd. now owns 7,083,778 shares of the financial services provider’s stock worth $523,208,000 after buying an additional 28,316 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of CBRE Group by 15.1% in the 3rd quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock valued at $503,786,000 after purchasing an additional 894,521 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in CBRE Group by 0.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,868,834 shares of the financial services provider’s stock valued at $546,330,000 after buying an additional 44,648 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Buying and Selling at CBRE Group

In related news, CEO John E. Durburg sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the completion of the transaction, the chief executive officer now owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Emma E. Giamartino sold 2,667 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares of the company’s stock, valued at approximately $6,766,895.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Durburg sold 25,000 shares of CBRE Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the completion of the sale, the chief executive officer now owns 207,856 shares of the company’s stock, valued at $19,164,323.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,592 shares of company stock valued at $3,675,752. 0.54% of the stock is currently owned by company insiders.

CBRE Group Stock Performance

NYSE:CBRE opened at $87.94 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. CBRE Group, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $98.65. The business has a 50 day moving average price of $92.03 and a 200-day moving average price of $85.58. The firm has a market cap of $26.99 billion, a PE ratio of 27.74 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.21 by $0.17. The business had revenue of $8.95 billion during the quarter, compared to analyst estimates of $8.44 billion. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS. Equities research analysts predict that CBRE Group, Inc. will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CBRE. Raymond James upped their price target on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. StockNews.com raised CBRE Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Evercore ISI boosted their target price 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. TheStreet raised shares of CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods increased their price objective on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a report on Friday, February 16th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $99.50.

About CBRE Group

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.