Mercer Global Advisors Inc. ADV Increases Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Mercer Global Advisors Inc. ADV increased its holdings in CBRE Group, Inc. (NYSE:CBRE) by 6.2% in the second quarter, HoldingsChannel.com reports. The fund owned 151,793 shares of the financial services provider’s stock after acquiring an additional 8,884 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in CBRE Group were worth $13,013,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CBRE. BlackRock Inc. lifted its position in CBRE Group by 7.8% during the first quarter. BlackRock Inc. now owns 30,518,533 shares of the financial services provider’s stock valued at $2,414,321,000 after buying an additional 2,216,187 shares during the period. Cohen & Steers Inc. purchased a new position in CBRE Group during the first quarter valued at $78,374,000. Findlay Park Partners LLP lifted its position in CBRE Group by 39.8% during the second quarter. Findlay Park Partners LLP now owns 3,057,204 shares of the financial services provider’s stock valued at $262,094,000 after buying an additional 870,800 shares during the period. Senator Investment Group LP purchased a new position in CBRE Group during the first quarter valued at $58,146,000. Finally, Renaissance Technologies LLC purchased a new position in CBRE Group during the first quarter valued at $33,345,000. 94.17% of the stock is owned by institutional investors.

Several equities analysts have recently weighed in on CBRE shares. Raymond James raised their price target on CBRE Group from $93.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Wolfe Research started coverage on CBRE Group in a report on Monday, June 14th. They set an “outperform” rating and a $112.00 price target for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $83.00.

NYSE CBRE opened at $96.11 on Wednesday. CBRE Group, Inc. has a one year low of $43.17 and a one year high of $99.73. The stock has a 50-day moving average of $92.60 and a 200 day moving average of $86.63. The company has a market capitalization of $32.27 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.83 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 1.39.

CBRE Group (NYSE:CBRE) last announced its earnings results on Wednesday, July 28th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.58. CBRE Group had a return on equity of 20.78% and a net margin of 4.84%. The business had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.05 billion. On average, equities analysts predict that CBRE Group, Inc. will post 4.83 earnings per share for the current fiscal year.

In related news, Director Brandon B. Boze sold 302,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $96.41, for a total value of $29,115,820.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brandon B. Boze sold 341,000 shares of the business’s stock in a transaction that occurred on Thursday, August 12th. The stock was sold at an average price of $95.47, for a total value of $32,555,270.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 661,227 shares of company stock worth $63,439,266. Insiders own 0.75% of the company’s stock.

CBRE Group Profile

CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.

Featured Story: How do candlesticks reflect price movement?

Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBRE).

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

Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.