CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 50.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,467 shares of the financial services provider's stock after selling 80,748 shares during the period. Kovitz Investment Group Partners LLC's holdings in CBRE Group were worth $10,433,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in CBRE Group during the fourth quarter worth $514,609,000. Artisan Partners Limited Partnership boosted its position in shares of CBRE Group by 290.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock worth $531,736,000 after buying an additional 3,011,566 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in CBRE Group in the 4th quarter valued at about $190,695,000. Manning & Napier Advisors LLC purchased a new position in CBRE Group during the 4th quarter valued at about $175,978,000. Finally, Massachusetts Financial Services Co. MA raised its position in CBRE Group by 11,750.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider's stock worth $161,876,000 after acquiring an additional 1,222,558 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

CBRE Group Trading Down 1.6 %

Shares of CBRE opened at $120.88 on Friday. CBRE Group, Inc. has a twelve month low of $84.24 and a twelve month high of $147.75. The firm has a market capitalization of $36.25 billion, a P/E ratio of 38.50 and a beta of 1.26. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The stock's fifty day simple moving average is $127.65 and its 200 day simple moving average is $132.01.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The company had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $8.73 billion. On average, equities research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. StockNews.com cut shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Keefe, Bruyette & Woods cut their price target on CBRE Group from $145.00 to $129.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Jefferies Financial Group raised CBRE Group from a "hold" rating to a "buy" rating and increased their price objective for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. cut their target price on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Raymond James cut shares of CBRE Group from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, CBRE Group currently has a consensus rating of "Moderate Buy" and an average target price of $149.00.

Insiders Place Their Bets

In other news, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the sale, the insider now owns 28,735 shares in the company, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the transaction, the chief financial officer now owns 107,343 shares of the company's stock, valued at $13,491,941.67. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

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.

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