NEOS Investment Management LLC Boosts Position in CBRE Group, Inc. (NYSE:CBRE)

NEOS Investment Management LLC raised its stake in CBRE Group, Inc. (NYSE:CBRE) by 29.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,203 shares of the financial services provider’s stock after buying an additional 3,729 shares during the period. NEOS Investment Management LLC’s holdings in CBRE Group were worth $2,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of CBRE Group in the fourth quarter valued at about $1,518,000. Merit Financial Group LLC purchased a new position in CBRE Group during the 4th quarter valued at about $256,000. Fulton Bank N.A. raised its holdings 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 valued at $3,262,000 after purchasing an additional 19,227 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of CBRE Group by 17,304.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 3,807 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in shares of CBRE Group during the fourth quarter valued at approximately $175,978,000. 98.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Evercore ISI decreased their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Raymond James lowered CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $155.00 to $152.00 in a research note on Friday, January 24th. The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $163.00 in a report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and an average target price of $149.89.

Insider Buying and Selling

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

CBRE Group Stock Performance

CBRE opened at $129.40 on Friday. The firm’s 50-day moving average price is $137.54 and its 200-day moving average price is $132.15. The company has a market cap of $38.82 billion, a P/E ratio of 41.21 and a beta of 1.42. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 52-week low of $84.24 and a 52-week high of $147.75.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

CBRE Group 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.