JPMorgan Chase & Co. Has $419.91 Million Stock Position in CBRE Group, Inc. (NYSE:CBRE)

JPMorgan Chase & Co. lessened its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 11.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,373,304 shares of the financial services provider's stock after selling 439,348 shares during the period. JPMorgan Chase & Co. owned about 1.10% of CBRE Group worth $419,909,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBRE. Canton Hathaway LLC purchased a new stake in shares of CBRE Group during the third quarter worth approximately $27,000. American National Bank & Trust purchased a new stake in shares of CBRE Group in the third quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new stake in CBRE Group during the 3rd quarter valued at $32,000. Wolff Wiese Magana LLC boosted its stake in shares of 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 valued at $36,000 after acquiring an additional 283 shares during the last quarter. Finally, Asset Dedication LLC purchased a new stake in shares of CBRE Group during the third quarter worth about $40,000. Institutional investors and hedge funds own 98.41% of the company's stock.

Insider Activity

In other news, CFO Emma E. Giamartino sold 1,815 shares of the company's stock in a transaction dated 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 owns 70,154 shares in the company, valued at $9,214,026.36. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CBRE. Citigroup lifted their price target on shares of CBRE Group from $130.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 25th. Keefe, Bruyette & Woods upped their price target on CBRE Group from $125.00 to $138.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $120.00 to $163.00 in a report on Monday, December 16th. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research note on Friday, December 6th. They set a "buy" rating and a $176.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of CBRE Group from $123.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.33.

CBRE Group Stock Performance

Shares of NYSE CBRE traded down $1.37 during midday trading on Friday, reaching $130.63. 975,742 shares of the company traded hands, compared to its average volume of 1,711,089. CBRE Group, Inc. has a 52 week low of $82.75 and a 52 week high of $142.00. 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 company has a market cap of $39.98 billion, a price-to-earnings ratio of 42.00 and a beta of 1.39. The stock has a 50-day moving average price of $133.53 and a 200 day moving average price of $117.15.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) 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 analyst estimates of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. Sell-side analysts anticipate that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

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.