Brown Brothers Harriman & Co. Purchases 209,667 Shares of CBRE Group, Inc. (NYSE:CBRE)

Brown Brothers Harriman & Co. boosted its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 93.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 435,169 shares of the financial services provider’s stock after purchasing an additional 209,667 shares during the period. Brown Brothers Harriman & Co.’s holdings in CBRE Group were worth $54,170,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Independent Advisor Alliance bought a new stake in shares of CBRE Group during the 3rd quarter worth approximately $205,000. Harvest Fund Management Co. Ltd acquired a new position in CBRE Group during the third quarter valued at approximately $362,000. Fisher Asset Management LLC lifted its stake in CBRE Group by 1.6% during the third quarter. Fisher Asset Management LLC now owns 44,753 shares of the financial services provider’s stock worth $5,571,000 after purchasing an additional 705 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in CBRE Group by 13.1% during the third quarter. Daiwa Securities Group Inc. now owns 74,924 shares of the financial services provider’s stock worth $9,327,000 after purchasing an additional 8,662 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of CBRE Group in the 3rd quarter valued at $1,829,000. 98.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE stock opened at $135.43 on Monday. The firm has a market capitalization of $41.44 billion, a price-to-earnings ratio of 43.55 and a beta of 1.39. 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 business’s 50-day moving average price is $126.83 and its 200-day moving average price is $108.80. CBRE Group, Inc. has a 12 month low of $77.97 and a 12 month high of $137.93.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) 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 business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter last year, the business earned $0.72 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts forecast that CBRE Group, Inc. will post 4.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CBRE shares. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI increased their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods raised 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 note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.83.

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.