APG Asset Management N.V. Acquires New Position in CBRE Group, Inc. (NYSE:CBRE)

APG Asset Management N.V. acquired a new stake in CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 167,300 shares of the financial services provider’s stock, valued at approximately $21,212,000.

A number of other hedge funds have also added to or reduced their stakes in CBRE. Principal Financial Group Inc. grew its holdings in CBRE Group by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock valued at $924,223,000 after buying an additional 277,922 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in CBRE Group during the 3rd quarter valued at about $208,000. Orion Portfolio Solutions LLC grew its holdings in CBRE Group by 5.3% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,827 shares of the financial services provider’s stock valued at $3,339,000 after buying an additional 1,344 shares in the last quarter. MML Investors Services LLC grew its holdings in CBRE Group by 5.5% during the 3rd quarter. MML Investors Services LLC now owns 65,922 shares of the financial services provider’s stock valued at $8,206,000 after buying an additional 3,454 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in CBRE Group by 9.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 92,956 shares of the financial services provider’s stock valued at $11,571,000 after buying an additional 7,701 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Insider Activity at CBRE Group

In other CBRE Group news, insider Chad J. Doellinger sold 797 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the transaction, the insider now owns 28,735 shares in the company, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares of the company’s stock, valued at $13,491,941.67. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

CBRE Group Trading Up 6.3 %

CBRE Group stock opened at $121.17 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75. The stock has a market capitalization of $36.36 billion, a PE ratio of 38.59 and a beta of 1.26. The business’s fifty day moving average is $133.67 and its 200 day moving average is $132.35.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, sell-side analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CBRE shares. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Evercore ISI cut their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Morgan Stanley boosted their price objective on CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a report on Friday, February 14th. Finally, Raymond James lowered CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $155.00 to $152.00 in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and an average target price of $149.89.

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.