1,734 Shares in CBRE Group, Inc. (NYSE:CBRE) Bought by Drive Wealth Management LLC

Drive Wealth Management LLC purchased a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,734 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other large investors have also recently bought and sold shares of the business. Swedbank AB acquired a new stake in CBRE Group during the first quarter worth approximately $162,576,000. Robeco Institutional Asset Management B.V. grew its position in shares of CBRE Group by 60.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after buying an additional 993,963 shares during the period. Eminence Capital LP increased its stake in shares of CBRE Group by 42.6% in the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after acquiring an additional 453,406 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of CBRE Group during the 2nd quarter valued at $36,820,000. Finally, Delta Global Management LP boosted its stake in CBRE Group by 266.2% during the first quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock worth $52,877,000 after acquiring an additional 395,297 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CBRE. Morgan Stanley assumed coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target for the company. Evercore ISI upped their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Raymond James raised their price objective on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.83.

CBRE Group Trading Up 1.9 %

NYSE CBRE opened at $132.67 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $40.60 billion, a P/E ratio of 42.66 and a beta of 1.39. The business has a fifty day simple moving average of $125.61 and a 200 day simple moving average of $107.50. CBRE Group, Inc. has a 12 month low of $76.63 and a 12 month high of $137.93.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period last year, the firm earned $0.72 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. On average, analysts predict that CBRE Group, Inc. will post 4.94 EPS for the current fiscal year.

Insider Transactions at CBRE Group

In other news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.54% of the company’s stock.

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.