Teacher Retirement System of Texas Buys 373,577 Shares of CBRE Group, Inc. (NYSE:CBRE)

Teacher Retirement System of Texas grew its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 132.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 656,429 shares of the financial services provider’s stock after acquiring an additional 373,577 shares during the period. Teacher Retirement System of Texas’ holdings in CBRE Group were worth $86,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CBRE. Algert Global LLC purchased a new position in CBRE Group during the third quarter valued at approximately $1,829,000. Hudson Valley Investment Advisors Inc. ADV purchased a new position in CBRE Group during the fourth quarter valued at approximately $1,518,000. Merit Financial Group LLC purchased a new position in CBRE Group during the fourth quarter valued at approximately $256,000. Fulton Bank N.A. increased its holdings in CBRE Group by 342.0% during the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after buying an additional 19,227 shares during the period. Finally, Prestige Wealth Management Group LLC increased its holdings in CBRE Group by 17,304.5% during 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 buying an additional 3,807 shares during the period. Institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $155.00 to $152.00 in a report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, February 14th. Evercore ISI cut their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Finally, Citigroup lifted their price target on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.89.

Insider Activity

In related news, insider Chad J. Doellinger sold 797 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were 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 directly owns 28,735 shares in the company, valued at $3,629,517.85. The trade was a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

Shares of CBRE opened at $128.73 on Thursday. The firm has a market capitalization of $38.62 billion, a PE ratio of 41.00 and a beta of 1.42. 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 1-year low of $84.24 and a 1-year high of $147.75. The company’s fifty day moving average price is $137.21 and its 200-day moving average price is $131.44.

CBRE Group (NYSE:CBRE) last announced 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%. On average, equities research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

CBRE Group Company 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.