United Community Bank Takes $324,000 Position in CBRE Group, Inc. (NYSE:CBRE)

United Community Bank bought a new stake in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, Holdings Channel reports. The fund bought 3,477 shares of the financial services provider’s stock, valued at approximately $324,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Madison Asset Management LLC acquired a new position in shares of CBRE Group in the 4th quarter worth approximately $234,000. Bank of Nova Scotia increased its holdings in shares of CBRE Group by 199.6% in the fourth quarter. Bank of Nova Scotia now owns 84,638 shares of the financial services provider’s stock valued at $7,879,000 after buying an additional 56,384 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of CBRE Group during the 4th quarter valued at $240,000. Evoke Wealth LLC bought a new stake in shares of CBRE Group during the 4th quarter worth $401,000. Finally, Parnassus Investments LLC acquired a new position in shares of CBRE Group in the 4th quarter worth $104,277,000. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Stock Up 1.4 %

Shares of NYSE CBRE traded up $1.19 during mid-day trading on Friday, reaching $88.07. The company had a trading volume of 4,518,139 shares, compared to its average volume of 1,506,141. The stock has a market capitalization of $27.02 billion, a PE ratio of 27.44 and a beta of 1.44. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $98.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.15. The stock’s 50 day moving average is $89.80 and its 200-day moving average is $88.40.

CBRE Group (NYSE:CBRE) last issued its earnings results on Friday, May 3rd. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. The firm had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.94 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that CBRE Group, Inc. will post 4.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective for the company. Evercore ISI boosted their target price on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research note on Tuesday, April 2nd. StockNews.com cut CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods upped their price target on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $99.50.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the sale, the chief financial officer now directly owns 72,350 shares in the company, valued at $6,766,895.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate 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.