Meridian Wealth Management LLC Increases Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Meridian Wealth Management LLC lifted its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,121 shares of the financial services provider’s stock after acquiring an additional 106 shares during the period. Meridian Wealth Management LLC’s holdings in CBRE Group were worth $637,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of CBRE Group by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,876,724 shares of the financial services provider’s stock worth $233,615,000 after purchasing an additional 16,202 shares in the last quarter. Banco Santander S.A. boosted its position in shares of CBRE Group by 81.1% during the 3rd quarter. Banco Santander S.A. now owns 7,950 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 3,560 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of CBRE Group during the 3rd quarter worth $357,000. King Luther Capital Management Corp purchased a new stake in shares of CBRE Group during the 3rd quarter worth $225,000. Finally, Cornerstone Advisors LLC boosted its position in shares of CBRE Group by 29.9% during the 3rd quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock worth $2,054,000 after purchasing an additional 3,800 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Trading Up 2.9 %

Shares of CBRE stock opened at $135.43 on Monday. The stock has a 50-day simple moving average of $126.83 and a 200 day simple moving average of $108.80. CBRE Group, Inc. has a fifty-two week low of $77.97 and a fifty-two week high of $137.93. The stock has a market capitalization of $41.44 billion, a P/E ratio of 43.55 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

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. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. On average, sell-side analysts expect that CBRE Group, Inc. will post 4.94 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the sale, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares in the company, valued at $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.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CBRE shares. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Evercore ISI lifted 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. Finally, Keefe, Bruyette & Woods lifted their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus target price 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.