Franklin Resources Inc. Acquires 605,403 Shares of CBRE Group, Inc. (NYSE:CBRE)

Franklin Resources Inc. raised its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,100,770 shares of the financial services provider's stock after acquiring an additional 605,403 shares during the quarter. Franklin Resources Inc. owned approximately 1.34% of CBRE Group worth $538,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in CBRE Group during the 4th quarter valued at about $514,609,000. Artisan Partners Limited Partnership increased its stake in shares of CBRE Group by 290.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock valued at $531,736,000 after purchasing an additional 3,011,566 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of CBRE Group during the fourth quarter valued at approximately $190,695,000. Manning & Napier Advisors LLC bought a new stake in shares of CBRE Group in the 4th quarter worth approximately $175,978,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of CBRE Group by 1,499.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider's stock worth $139,162,000 after buying an additional 993,687 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

CBRE Group Stock Performance

NYSE:CBRE traded down $6.02 during trading hours on Friday, reaching $117.82. The company had a trading volume of 2,543,359 shares, compared to its average volume of 1,775,171. The firm has a market cap of $35.35 billion, a price-to-earnings ratio of 37.52 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 firm's 50 day moving average price is $136.28 and its 200-day moving average price is $132.57. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75.

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CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping 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%. On average, analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Activity

In other CBRE Group news, insider Chad J. Doellinger sold 797 shares of the firm's 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 approximately $3,629,517.85. This trade represents a 2.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 107,343 shares in the company, 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.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Raymond James downgraded CBRE Group from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $155.00 to $152.00 in a report on Friday, January 24th. Morgan Stanley increased their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the company a "market perform" rating in a research note on Friday, February 14th. StockNews.com downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Evercore ISI reduced their price target on shares of CBRE Group from $147.00 to $141.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $149.89.

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.