Franklin Resources Inc. Lowers Stake in CBRE Group, Inc. (NYSE:CBRE)

Franklin Resources Inc. cut its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 24.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,495,367 shares of the financial services provider's stock after selling 1,139,521 shares during the quarter. Franklin Resources Inc. owned approximately 1.14% of CBRE Group worth $426,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CBRE. State Street Corp lifted its position in shares of CBRE Group by 5.4% in the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider's stock worth $1,672,204,000 after purchasing an additional 692,697 shares during the period. Geode Capital Management LLC raised its stake in CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider's stock worth $950,270,000 after buying an additional 56,888 shares in the last quarter. FMR LLC lifted its holdings in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider's stock worth $944,435,000 after buying an additional 3,498,244 shares during the period. Principal Financial Group Inc. lifted its holdings in CBRE Group by 3.9% in the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider's stock worth $924,223,000 after buying an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in CBRE Group by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider's stock valued at $763,909,000 after acquiring an additional 49,732 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CBRE shares. Citigroup increased their target price on CBRE Group from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Wolfe Research upgraded CBRE Group to a "strong-buy" rating in a report on Friday, August 16th. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. The Goldman Sachs Group started coverage on shares of CBRE Group in a research report on Friday, December 6th. They issued a "buy" rating and a $176.00 target price on the stock. Finally, Evercore ISI lifted their price target on shares of CBRE Group from $123.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, CBRE Group has an average rating of "Moderate Buy" and an average price target of $129.63.

CBRE Group Stock Down 1.7 %

Shares of CBRE traded down $2.39 on Friday, hitting $137.30. 2,045,015 shares of the stock traded hands, compared to its average volume of 1,690,342. CBRE Group, Inc. has a one year low of $82.75 and a one year high of $142.00. The company has a market capitalization of $42.02 billion, a PE ratio of 44.15 and a beta of 1.39. The business has a 50 day simple moving average of $131.69 and a 200 day simple moving average of $113.63. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. As a group, equities analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% 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.