Patton Fund Management Inc. Makes New Investment in CBRE Group, Inc. (NYSE:CBRE)

Patton Fund Management Inc. purchased a new stake in CBRE Group, Inc. (NYSE:CBRE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 53,451 shares of the financial services provider’s stock, valued at approximately $7,018,000. CBRE Group comprises approximately 1.4% of Patton Fund Management Inc.’s investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors also recently modified their holdings of CBRE. Canton Hathaway LLC acquired a new position in shares of CBRE Group during the third quarter worth $27,000. American National Bank & Trust acquired a new position in CBRE Group in the 3rd quarter worth about $28,000. Ashton Thomas Securities LLC bought a new position in CBRE Group in the third quarter valued at about $32,000. Wolff Wiese Magana LLC boosted its stake in shares of CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 283 shares in the last quarter. Finally, Asset Dedication LLC bought a new stake in shares of CBRE Group during the third quarter worth about $40,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the sale, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CBRE has been the topic of several recent research reports. Morgan Stanley upgraded shares of CBRE Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $160.00 in a research report on Wednesday, January 15th. Citigroup upped their price target on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Finally, The Goldman Sachs Group began coverage on shares of CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective for the company. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.56.

CBRE Group Trading Down 0.2 %

NYSE:CBRE opened at $142.77 on Wednesday. CBRE Group, Inc. has a 12 month low of $82.75 and a 12 month high of $143.69. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $43.69 billion, a price-to-earnings ratio of 45.91 and a beta of 1.39. The firm has a fifty day simple moving average of $134.50 and a two-hundred day simple moving average of $124.06.

CBRE Group Company 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.