Assenagon Asset Management S.A. Cuts Position in CBRE Group, Inc. (NYSE:CBRE)

Assenagon Asset Management S.A. cut its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 50.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,154 shares of the financial services provider's stock after selling 361,744 shares during the quarter. Assenagon Asset Management S.A. owned 0.11% of CBRE Group worth $45,840,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in CBRE Group in the third quarter valued at $27,000. American National Bank & Trust acquired a new stake in shares of CBRE Group in the third quarter valued at about $28,000. Ashton Thomas Securities LLC purchased a new stake in CBRE Group during the third quarter worth about $32,000. Wolff Wiese Magana LLC grew its position in 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 worth $36,000 after buying an additional 283 shares during the period. Finally, Asset Dedication LLC purchased a new position in CBRE Group in the third quarter valued at about $40,000. Institutional investors and hedge funds own 98.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Friday, December 6th. They set a "buy" rating and a $176.00 price target on the stock. JPMorgan Chase & Co. upgraded CBRE Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Morgan Stanley upgraded CBRE Group from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $115.00 to $160.00 in a research report on Wednesday. Jefferies Financial Group upgraded CBRE Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Finally, Citigroup increased their target price on CBRE Group from $130.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, CBRE Group has a consensus rating of "Moderate Buy" and a consensus price target of $145.44.

CBRE Group Trading Up 2.7 %

CBRE traded up $3.54 during trading on Thursday, hitting $134.84. The company's stock had a trading volume of 1,660,703 shares, compared to its average volume of 1,722,190. CBRE Group, Inc. has a twelve month low of $82.75 and a twelve month high of $142.00. The firm's 50 day moving average price is $133.36 and its 200-day moving average price is $120.63. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $41.26 billion, a PE ratio of 43.36 and a beta of 1.39.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. The firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. On average, analysts expect that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

CBRE Group 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.