Harvest Fund Management Co. Ltd Invests $362,000 in CBRE Group, Inc. (NYSE:CBRE)

Harvest Fund Management Co. Ltd bought a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the third quarter, Holdings Channel reports. The fund bought 2,909 shares of the financial services provider’s stock, valued at approximately $362,000.

Several other hedge funds have also modified their holdings of the stock. Fisher Asset Management LLC raised its holdings in CBRE Group by 1.6% during the 3rd quarter. Fisher Asset Management LLC now owns 44,753 shares of the financial services provider’s stock worth $5,571,000 after buying an additional 705 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of 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 valued at $9,327,000 after acquiring an additional 8,662 shares during the period. Algert Global LLC purchased a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $1,829,000. Cerity Partners LLC boosted its stake in CBRE Group by 32.9% in the 3rd quarter. Cerity Partners LLC now owns 59,819 shares of the financial services provider’s stock worth $7,446,000 after purchasing an additional 14,808 shares during the period. Finally, Great Valley Advisor Group Inc. purchased a new position in CBRE Group during the 3rd quarter worth approximately $217,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Up 1.3 %

CBRE opened at $140.44 on Wednesday. The company has a market capitalization of $42.98 billion, a PE ratio of 45.16 and a beta of 1.39. The business has a 50-day moving average of $127.66 and a 200-day moving average of $109.52. CBRE Group, Inc. has a fifty-two week low of $78.18 and a fifty-two week high of $141.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last posted its earnings results 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 firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that CBRE Group, Inc. will post 4.94 EPS for the current fiscal year.

Analysts Set New Price Targets

CBRE has been the subject of several recent analyst reports. Evercore ISI raised their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Citigroup lifted their target price on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now directly owns 70,154 shares in the company, valued at approximately $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 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 transaction, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

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.