Mesirow Financial Investment Management Inc. Buys New Position in CBRE Group, Inc. (NYSE:CBRE)

Mesirow Financial Investment Management Inc. bought a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,055 shares of the financial services provider’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CBRE. American National Bank & Trust bought a new stake in CBRE Group during the third quarter worth $28,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of CBRE Group by 190.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after buying an additional 215 shares during the last quarter. Crewe Advisors LLC bought a new position in CBRE Group during the first quarter valued at about $30,000. Wolff Wiese Magana LLC increased its holdings in CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after buying an additional 283 shares during the last quarter. Finally, Asset Dedication LLC bought a new stake in CBRE Group in the third quarter worth about $40,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CBRE shares. Morgan Stanley began coverage on CBRE Group in a research report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target for the company. Raymond James boosted their target price on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Evercore ISI boosted their price objective on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and an average price target of $116.83.

CBRE Group Price Performance

Shares of NYSE:CBRE opened at $133.82 on Wednesday. The company’s fifty day moving average is $123.79 and its 200 day moving average is $105.89. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a 52 week low of $72.10 and a 52 week high of $137.93. The stock has a market cap of $40.95 billion, a PE ratio of 43.67 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the company posted $0.72 EPS. CBRE Group’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts anticipate that CBRE Group, Inc. will post 4.96 earnings per share for the current year.

Insider Transactions at CBRE Group

In related news, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the sale, the director now directly owns 51,244 shares in the company, valued at $5,739,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

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.