1,313 Shares in CBRE Group, Inc. (NYSE:CBRE) Bought by Alpine Bank Wealth Management

Alpine Bank Wealth Management purchased a new stake in CBRE Group, Inc. (NYSE:CBRE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,313 shares of the financial services provider’s stock, valued at approximately $172,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CBRE. Sowell Financial Services LLC purchased a new stake in shares of CBRE Group during the 1st quarter worth approximately $256,000. USA Financial Formulas acquired a new stake in CBRE Group during the 1st quarter worth $1,101,000. Raymond James Financial Inc. purchased a new stake in CBRE Group in the fourth quarter valued at $36,643,000. Wealth Enhancement Advisory Services LLC boosted its stake in CBRE Group by 1,079.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 281,211 shares of the financial services provider’s stock valued at $36,777,000 after acquiring an additional 257,366 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in CBRE Group by 69.1% in the fourth quarter. LPL Financial LLC now owns 69,863 shares of the financial services provider’s stock valued at $9,172,000 after acquiring an additional 28,547 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Trading Down 2.7%

NYSE:CBRE opened at $135.39 on Thursday. CBRE Group, Inc. has a 12-month low of $85.74 and a 12-month high of $147.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $126.94 and its 200-day simple moving average is $130.94. The firm has a market cap of $40.36 billion, a P/E ratio of 41.40 and a beta of 1.29.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $8.91 billion for the quarter, compared to analysts’ expectations of $8.73 billion. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. CBRE Group’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. Equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CBRE shares. UBS Group cut their target price on CBRE Group from $146.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a report on Wednesday, April 30th. Wall Street Zen lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.33.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer now owns 105,371 shares in the company, valued at approximately $13,603,396.10. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chad J. Doellinger sold 494 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total value of $62,268.70. Following the completion of the sale, the insider now directly owns 27,945 shares of the company’s stock, valued at approximately $3,522,467.25. This trade represents a 1.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,599 shares of company stock valued at $333,600 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

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.