Optimal Asset Management Inc. Takes $919,000 Position in CBRE Group, Inc. (NYSE:CBRE)

Optimal Asset Management Inc. bought a new stake in CBRE Group, Inc. (NYSE:CBRE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,614 shares of the financial services provider’s stock, valued at approximately $919,000.

Other large investors have also recently modified their holdings of the company. Childress Capital Advisors LLC acquired a new position in shares of CBRE Group in the 4th quarter valued at approximately $30,000. Wealthcare Advisory Partners LLC acquired a new position in CBRE Group during the 1st quarter worth approximately $38,000. E Fund Management Co. Ltd. acquired a new position in CBRE Group during the 1st quarter worth approximately $47,000. CX Institutional increased its position in CBRE Group by 25.2% during the 1st quarter. CX Institutional now owns 635 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 128 shares in the last quarter. Finally, Bogart Wealth LLC increased its position in CBRE Group by 47.1% during the 1st quarter. Bogart Wealth LLC now owns 703 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 93.94% of the company’s stock.

In related news, insider Chandra Dhandapani sold 11,000 shares of the stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $84.93, for a total transaction of $934,230.00. Following the transaction, the insider now directly owns 77,636 shares of the company’s stock, valued at $6,593,625.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by corporate insiders.

A number of research firms recently issued reports on CBRE. Raymond James upped their price objective on shares of CBRE Group from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, May 3rd. Wolfe Research started coverage on shares of CBRE Group in a research report on Monday, June 14th. They issued an “outperform” rating and a $112.00 price target for the company. Finally, Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Thursday, May 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. CBRE Group currently has an average rating of “Buy” and a consensus price target of $81.33.

NYSE:CBRE opened at $85.96 on Thursday. The company has a fifty day moving average price of $86.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37. CBRE Group, Inc. has a 52 week low of $41.03 and a 52 week high of $90.21. The company has a market cap of $28.85 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 1.89 and a beta of 1.49.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, April 29th. The financial services provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.16. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.75 billion. CBRE Group had a net margin of 3.54% and a return on equity of 16.81%. As a group, equities analysts expect that CBRE Group, Inc. will post 4.04 EPS for the current year.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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