Delta Global Management LP grew its stake in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 35.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 238,553 shares of the financial services provider’s stock after buying an additional 61,828 shares during the period. CBRE Group accounts for 1.7% of Delta Global Management LP’s investment portfolio, making the stock its 9th largest holding. Delta Global Management LP owned about 0.08% of CBRE Group worth $38,357,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Legal & General Group Plc boosted its stake in CBRE Group by 2.6% during the 3rd quarter. Legal & General Group Plc now owns 2,121,144 shares of the financial services provider’s stock worth $334,207,000 after purchasing an additional 52,985 shares during the period. AIA Group Ltd acquired a new stake in CBRE Group during the 3rd quarter worth $1,734,000. Alberta Investment Management Corp acquired a new stake in CBRE Group during the 3rd quarter worth $5,026,000. King Luther Capital Management Corp boosted its stake in CBRE Group by 554.2% during the 3rd quarter. King Luther Capital Management Corp now owns 23,602 shares of the financial services provider’s stock worth $3,719,000 after purchasing an additional 19,994 shares during the period. Finally, NEOS Investment Management LLC boosted its stake in CBRE Group by 66.0% during the 3rd quarter. NEOS Investment Management LLC now owns 65,343 shares of the financial services provider’s stock worth $10,295,000 after purchasing an additional 25,983 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.
CBRE Group Stock Up 0.4%
CBRE stock opened at $133.94 on Tuesday. CBRE Group, Inc. has a one year low of $121.69 and a one year high of $174.27. The stock has a market capitalization of $39.22 billion, a PE ratio of 30.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The company has a fifty day moving average of $138.38 and a 200-day moving average of $148.73.
Insider Activity
In other news, CFO Emma E. Giamartino sold 2,250 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $130.74, for a total value of $294,165.00. Following the completion of the transaction, the chief financial officer owned 110,729 shares in the company, valued at $14,476,709.46. This trade represents a 1.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
CBRE has been the subject of a number of recent research reports. Weiss Ratings cut shares of CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. UBS Group upgraded shares of CBRE Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $185.00 in a research report on Sunday, February 22nd. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. Finally, Jefferies Financial Group restated a “buy” rating on shares of CBRE Group in a research note on Friday, May 15th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.29.
Read Our Latest Stock Analysis on CBRE
About CBRE Group
CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.
In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.
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