Westpac Banking Corp Cuts Position in CBRE Group, Inc. (NYSE:CBRE)

Westpac Banking Corp cut its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,918 shares of the financial services provider's stock after selling 3,690 shares during the period. Westpac Banking Corp's holdings in CBRE Group were worth $4,847,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CBRE. Principal Financial Group Inc. increased its stake in shares of CBRE Group by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider's stock worth $924,223,000 after acquiring an additional 277,922 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of CBRE Group by 70.9% in the 3rd quarter. Townsquare Capital LLC now owns 5,595 shares of the financial services provider's stock worth $696,000 after purchasing an additional 2,322 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of CBRE Group by 4.2% in the 3rd quarter. Captrust Financial Advisors now owns 20,166 shares of the financial services provider's stock worth $2,510,000 after buying an additional 815 shares during the last quarter. Verition Fund Management LLC increased its position in CBRE Group by 33.5% during the 3rd quarter. Verition Fund Management LLC now owns 13,422 shares of the financial services provider's stock valued at $1,671,000 after buying an additional 3,370 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in CBRE Group during the third quarter valued at $2,168,000. 98.41% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CBRE. Raymond James downgraded CBRE Group from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $155.00 to $152.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised shares of CBRE Group from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Evercore ISI cut their price target on shares of CBRE Group from $147.00 to $141.00 and set an "outperform" rating on the stock in a report on Monday, January 13th. Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the stock a "market perform" rating in a report on Friday, February 14th. Finally, Morgan Stanley upped their price objective on CBRE Group from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CBRE Group presently has an average rating of "Moderate Buy" and an average price target of $149.89.

Insider Buying and Selling at CBRE Group

In other news, insider Chad J. Doellinger sold 797 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total value of $100,669.07. Following the completion of the transaction, the insider now owns 28,735 shares of the company's stock, valued at $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the sale, the chief financial officer now owns 107,343 shares of the company's stock, valued at $13,491,941.67. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

CBRE Group Stock Performance

Shares of CBRE traded up $0.39 during trading hours on Tuesday, hitting $117.54. The stock had a trading volume of 684,392 shares, compared to its average volume of 1,774,514. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The firm has a market capitalization of $35.26 billion, a PE ratio of 37.29 and a beta of 1.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The stock has a fifty day moving average price of $135.76 and a 200 day moving average price of $132.62.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. Analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

About CBRE Group

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.