Manning & Napier Advisors LLC Makes New $175.98 Million Investment in CBRE Group, Inc. (NYSE:CBRE)

Manning & Napier Advisors LLC acquired a new stake in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,340,373 shares of the financial services provider’s stock, valued at approximately $175,978,000. CBRE Group comprises 2.0% of Manning & Napier Advisors LLC’s portfolio, making the stock its 10th biggest position.

A number of other large investors also recently modified their holdings of CBRE. FMR LLC lifted its position in CBRE Group by 85.6% during the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in CBRE Group by 60.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after purchasing an additional 993,963 shares during the last quarter. State Street Corp lifted its position in CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after purchasing an additional 692,697 shares during the last quarter. SG Americas Securities LLC lifted its position in CBRE Group by 908.7% during the third quarter. SG Americas Securities LLC now owns 350,935 shares of the financial services provider’s stock valued at $43,684,000 after purchasing an additional 316,144 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in CBRE Group by 3.9% during 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 purchasing an additional 277,922 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 price target on the stock. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Raymond James downgraded shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Finally, Evercore ISI decreased their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. 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. According to MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and a consensus target price of $148.56.

CBRE Group Trading Up 0.7 %

NYSE:CBRE traded up $0.95 during trading hours on Wednesday, hitting $143.55. The company had a trading volume of 325,679 shares, compared to its average volume of 1,696,880. The company has a market capitalization of $43.93 billion, a PE ratio of 46.18 and a beta of 1.39. The stock has a 50-day moving average price of $134.50 and a 200 day moving average price of $124.06. CBRE Group, Inc. has a 52 week low of $82.75 and a 52 week high of $143.69. 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 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.