Pictet Asset Management Holding SA Grows Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Pictet Asset Management Holding SA lifted its stake in CBRE Group, Inc. (NYSE:CBRE) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,941 shares of the financial services provider’s stock after buying an additional 15,924 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CBRE Group were worth $25,069,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in CBRE Group by 3.9% in the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock valued at $924,223,000 after buying an additional 277,922 shares in the last quarter. Townsquare Capital LLC increased its stake in shares of CBRE Group by 70.9% in the 3rd quarter. Townsquare Capital LLC now owns 5,595 shares of the financial services provider’s stock valued at $696,000 after purchasing an additional 2,322 shares in the last quarter. Freedom Investment Management Inc. acquired a new position in CBRE Group in the 3rd quarter worth about $208,000. Captrust Financial Advisors boosted its position in CBRE Group by 4.2% during the third quarter. Captrust Financial Advisors now owns 20,166 shares of the financial services provider’s stock worth $2,510,000 after purchasing an additional 815 shares in the last quarter. Finally, Verition Fund Management LLC boosted its position in CBRE Group by 33.5% during the third quarter. Verition Fund Management LLC now owns 13,422 shares of the financial services provider’s stock worth $1,671,000 after purchasing an additional 3,370 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBRE has been the subject of several research analyst reports. StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Evercore ISI cut their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. raised 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 research note on Monday, December 16th. Finally, The Goldman Sachs Group initiated coverage on CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective on the stock. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group Stock Performance

NYSE CBRE opened at $130.86 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. The stock’s fifty day moving average is $137.41 and its two-hundred day moving average is $132.45. The firm has a market capitalization of $39.26 billion, a P/E ratio of 41.68 and a beta of 1.42. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) 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, research analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Transactions at CBRE Group

In related news, insider Chad J. Doellinger sold 797 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 107,343 shares in the company, valued at $13,491,941.67. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. 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.