Wright Investors Service Inc. Buys Shares of 56,171 CBRE Group Inc (NYSE:CBRE)

Wright Investors Service Inc. bought a new stake in CBRE Group Inc (NYSE:CBRE) in the 2nd quarter, Holdings Channel.com reports. The fund bought 56,171 shares of the financial services provider’s stock, valued at approximately $2,882,000. CBRE Group accounts for approximately 1.1% of Wright Investors Service Inc.’s holdings, making the stock its 26th largest position.

A number of other large investors have also recently modified their holdings of CBRE. Hexavest Inc. bought a new stake in shares of CBRE Group during the second quarter worth $30,000. Rational Advisors LLC increased its position in shares of CBRE Group by 347.6% during the first quarter. Rational Advisors LLC now owns 640 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 497 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of CBRE Group during the second quarter worth $33,000. Enterprise Financial Services Corp increased its position in shares of CBRE Group by 680.6% during the second quarter. Enterprise Financial Services Corp now owns 765 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 667 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its position in shares of CBRE Group by 115.7% during the second quarter. Carroll Financial Associates Inc. now owns 798 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 428 shares in the last quarter. 93.28% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on CBRE shares. Raymond James increased their price objective on shares of CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. UBS Group increased their target price on shares of CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Compass Point assumed coverage on shares of CBRE Group in a report on Wednesday, July 10th. They set a “neutral” rating and a $54.00 target price for the company. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $57.83.

CBRE traded up $0.62 during trading hours on Thursday, hitting $50.48. 57,845 shares of the company’s stock were exchanged, compared to its average volume of 1,272,127. CBRE Group Inc has a 1-year low of $37.45 and a 1-year high of $56.47. The firm has a 50-day moving average price of $52.44. The company has a market capitalization of $17.66 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.27 and a beta of 1.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.16 and a current ratio of 1.09.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.03. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that CBRE Group Inc will post 3.75 EPS for the current fiscal year.

In other CBRE Group news, Director Curtis F. Feeny sold 4,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $47.25, for a total value of $189,000.00. Following the completion of the sale, the director now owns 8,444 shares in the company, valued at $398,979. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Curtis F. Feeny sold 4,514 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $47.30, for a total transaction of $213,512.20. Following the completion of the sale, the director now owns 4,228 shares of the company’s stock, valued at approximately $199,984.40. The disclosure for this sale can be found here. Insiders have sold 98,514 shares of company stock valued at $5,159,012 in the last 90 days. 0.74% 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 worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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