Jennison Associates LLC Raises Position in CBRE Group, Inc. (NYSE:CBRE)

Jennison Associates LLC lifted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 88.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 716,086 shares of the financial services provider’s stock after acquiring an additional 336,359 shares during the quarter. Jennison Associates LLC owned 0.23% of CBRE Group worth $94,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CBRE. Algert Global LLC acquired a new stake in CBRE Group in the 3rd quarter valued at about $1,829,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of CBRE Group during the fourth quarter worth approximately $1,518,000. Merit Financial Group LLC acquired a new stake in CBRE Group in the fourth quarter valued at approximately $256,000. Fulton Bank N.A. lifted its stake in CBRE Group by 342.0% in the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after acquiring an additional 19,227 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its holdings in CBRE Group by 17,304.5% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 3,807 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CBRE. Citigroup lifted their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI lowered their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Morgan Stanley raised CBRE Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $115.00 to $160.00 in a research report on Wednesday, January 15th. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and upped their price target for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.56.

CBRE Group Stock Performance

Shares of CBRE opened at $142.71 on Tuesday. The company’s 50 day simple moving average is $135.15 and its 200-day simple moving average is $125.05. CBRE Group, Inc. has a 12-month low of $82.75 and a 12-month high of $147.10. The firm has a market cap of $43.67 billion, a PE ratio of 45.89 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the company’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 transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by 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.