Horizon Investment Services LLC Buys New Stake in CBRE Group (CBRE)
Horizon Investment Services LLC bought a new position in CBRE Group (NYSE:CBRE) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,366 shares of the financial services provider’s stock, valued at approximately $253,000.
Several other hedge funds and other institutional investors also recently modified their holdings of CBRE. BlackRock Inc. purchased a new position in CBRE Group in the first quarter valued at about $979,545,000. JPMorgan Chase & Co. purchased a new position in CBRE Group in the first quarter valued at about $631,852,000. Principal Financial Group Inc. purchased a new position in CBRE Group in the first quarter valued at about $460,482,000. Cantillon Capital Management LLC purchased a new position in CBRE Group in the first quarter valued at about $326,924,000. Finally, Wells Fargo & Company MN purchased a new position in CBRE Group in the first quarter valued at about $291,108,000. 93.00% of the stock is owned by institutional investors.
CBRE Group opened at $48.06 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.18 and a current ratio of 1.18. CBRE Group has a 52 week low of $34.34 and a 52 week high of $48.44. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.17 and a beta of 1.72.
A number of brokerages recently commented on CBRE. Barclays reissued a “buy” rating and issued a $58.00 price target (up previously from $56.00) on shares of CBRE Group in a report on Sunday, May 13th. Raymond James raised CBRE Group from an “outperform” rating to a “strong-buy” rating in a report on Thursday, May 10th. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Friday, May 4th. ValuEngine downgraded CBRE Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Goldman Sachs Group began coverage on CBRE Group in a report on Tuesday, April 3rd. They issued a “buy” rating and a $54.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $48.55.
In other news, insider William F. Concannon sold 29,483 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $47.68, for a total transaction of $1,405,749.44. Following the sale, the insider now directly owns 261,226 shares in the company, valued at approximately $12,455,255.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic V. Malek sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $47.68, for a total value of $2,384,000.00. Following the sale, the director now owns 267,446 shares in the company, valued at $12,751,825.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,591 shares of company stock worth $5,250,372. 0.88% of the stock is currently owned by company insiders.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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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