Norges Bank Invests $514.61 Million in CBRE Group, Inc. (NYSE:CBRE)

Norges Bank purchased a new stake in CBRE Group, Inc. (NYSE:CBRE) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,919,635 shares of the financial services provider’s stock, valued at approximately $514,609,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC raised its stake in shares of CBRE Group by 1.4% in the 4th quarter. Meridian Wealth Management LLC now owns 5,192 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 71 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in CBRE Group by 1.4% in the fourth quarter. Gilbert & Cook Inc. now owns 5,448 shares of the financial services provider’s stock valued at $715,000 after buying an additional 75 shares during the last quarter. Signaturefd LLC raised its stake in CBRE Group by 2.0% during the fourth quarter. Signaturefd LLC now owns 5,074 shares of the financial services provider’s stock valued at $666,000 after buying an additional 99 shares in the last quarter. IFP Advisors Inc lifted its holdings in CBRE Group by 9.1% during the 4th quarter. IFP Advisors Inc now owns 1,203 shares of the financial services provider’s stock worth $158,000 after buying an additional 100 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in shares of CBRE Group by 2.6% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,098 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 104 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Price Performance

NYSE CBRE opened at $129.40 on Friday. The company has a 50-day moving average price of $137.54 and a two-hundred day moving average price of $132.15. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75. The stock has a market cap of $38.82 billion, a price-to-earnings ratio of 41.21 and a beta of 1.42. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. Analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Keefe, Bruyette & Woods lifted their price target 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 dropped their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group initiated coverage on shares of CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 target price on the stock. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

Insider Activity at CBRE Group

In related news, 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 transaction of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares in the company, valued at $13,491,941.67. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chad J. Doellinger sold 797 shares of the company’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 value of $100,669.07. Following the completion of the sale, the insider now owns 28,735 shares of the company’s stock, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

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.