Procyon Advisors LLC Increases Position in CBRE Group, Inc. (NYSE:CBRE)

Procyon Advisors LLC lifted its stake in CBRE Group, Inc. (NYSE:CBRE) by 12.3% in the 4th quarter, Holdings Channel reports. The firm owned 10,203 shares of the financial services provider’s stock after purchasing an additional 1,120 shares during the quarter. Procyon Advisors LLC’s holdings in CBRE Group were worth $1,340,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in CBRE Group by 60.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after purchasing an additional 993,963 shares during the last quarter. State Street Corp increased its position in shares of CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after buying an additional 692,697 shares in the last quarter. Eminence Capital LP raised its stake in shares of CBRE Group by 42.6% during the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock worth $135,287,000 after buying an additional 453,406 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of CBRE Group in the 2nd quarter worth about $36,820,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

NYSE CBRE opened at $137.02 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $41.93 billion, a PE ratio of 44.06 and a beta of 1.39. The business’s 50-day moving average price is $133.43 and its 200 day moving average price is $121.08. CBRE Group, Inc. has a twelve month low of $82.75 and a twelve month high of $142.00.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CBRE has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $163.00 in a report on Monday, December 16th. Morgan Stanley upgraded CBRE Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $115.00 to $160.00 in a research report on Wednesday. Keefe, Bruyette & Woods increased their target price on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Evercore ISI dropped their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, Citigroup upped their price objective on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and a consensus target price of $145.44.

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.