Envestnet Asset Management Inc. Has $123.58 Million Stake in CBRE Group, Inc. (NYSE:CBRE)

Envestnet Asset Management Inc. raised its stake in CBRE Group, Inc. (NYSE:CBRE) by 16.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 941,239 shares of the financial services provider’s stock after buying an additional 130,423 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CBRE Group were worth $123,575,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CBRE. Hudson Valley Investment Advisors Inc. ADV purchased a new position in CBRE Group during the fourth quarter worth about $1,518,000. Merit Financial Group LLC purchased a new position in shares of CBRE Group in the 4th quarter worth approximately $256,000. Fulton Bank N.A. boosted its stake in shares of CBRE Group by 342.0% in the 4th quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after buying an additional 19,227 shares during the last quarter. Prestige Wealth Management Group LLC grew its holdings in shares of CBRE Group by 17,304.5% in the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock valued at $477,000 after acquiring an additional 3,807 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of CBRE Group during the fourth quarter valued at approximately $175,978,000. Institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CBRE. Evercore ISI cut their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $120.00 to $163.00 in a research report on Monday, December 16th. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. Finally, Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and increased their target price for the company from $133.00 to $152.00 in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group Price Performance

CBRE opened at $117.01 on Tuesday. The firm has a 50-day moving average price of $135.76 and a 200-day moving average price of $132.62. CBRE Group, Inc. has a twelve month low of $84.24 and a twelve month high of $147.75. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $35.11 billion, a price-to-earnings ratio of 37.26 and a beta of 1.26.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data 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 net margin of 2.71% and a return on equity of 16.96%. Equities analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Activity at CBRE Group

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

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.