Franklin Resources Inc. Boosts Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Franklin Resources Inc. boosted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 17.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,100,770 shares of the financial services provider’s stock after purchasing an additional 605,403 shares during the period. Franklin Resources Inc.’s holdings in CBRE Group were worth $538,390,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in CBRE Group in the 4th quarter worth approximately $25,000. Denver PWM LLC bought a new stake in shares of CBRE Group in the 4th quarter worth $29,000. Larson Financial Group LLC increased its holdings in CBRE Group by 610.9% in the 4th quarter. Larson Financial Group LLC now owns 327 shares of the financial services provider’s stock worth $43,000 after buying an additional 281 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of CBRE Group by 190.4% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 238 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in CBRE Group during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $130.86 on Tuesday. The firm has a 50 day moving average of $137.41 and a 200 day moving average of $132.45. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $39.26 billion, a price-to-earnings ratio of 41.68 and a beta of 1.42. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, sell-side analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Chad J. Doellinger sold 797 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the sale, the insider now owns 28,735 shares in the company, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares in the company, valued at approximately $13,491,941.67. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CBRE. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research report on Friday, February 14th. Morgan Stanley raised their target price on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Finally, StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

About CBRE Group

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.