CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Summit Global Investments

Summit Global Investments trimmed its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,453 shares of the financial services provider's stock after selling 9,712 shares during the period. Summit Global Investments' holdings in CBRE Group were worth $1,504,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CBRE. State Street Corp boosted its position in CBRE Group by 5.4% during the third 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of CBRE Group by 0.7% during the 3rd 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 during the last quarter. Principal Financial Group Inc. boosted its position in shares of CBRE Group by 2.4% in the 4th quarter. Principal Financial Group Inc. now owns 7,601,790 shares of the financial services provider's stock worth $998,039,000 after buying an additional 177,119 shares in the last quarter. FMR LLC boosted its position in shares of CBRE Group by 85.6% in the 3rd 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 in the last quarter. Finally, Cantillon Capital Management LLC grew its stake in CBRE Group by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 4,748,386 shares of the financial services provider's stock valued at $623,416,000 after acquiring an additional 25,142 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

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Insiders Place Their Bets

In related news, insider Chad J. Doellinger sold 797 shares of the 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 completion of the sale, the insider now owns 28,735 shares of the company's stock, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the firm's 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 completion of the transaction, the chief financial officer now owns 107,343 shares in the company, valued at $13,491,941.67. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

CBRE Group Trading Down 0.8 %

NYSE CBRE traded down $1.05 during trading hours on Thursday, hitting $131.57. 1,779,013 shares of the company's stock were exchanged, compared to its average volume of 1,668,763. The business's 50 day moving average is $137.75 and its 200-day moving average is $132.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. 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 $39.48 billion, a P/E ratio of 41.90 and a beta of 1.42.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. The Goldman Sachs Group began coverage on shares of CBRE Group in a report on Friday, December 6th. They issued a "buy" rating and a $176.00 price target on the stock. Jefferies Financial Group raised CBRE Group from a "hold" rating to a "buy" rating and upped their target price for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Evercore ISI dropped their price target on CBRE Group from $147.00 to $141.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. Raymond James downgraded CBRE Group from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. upgraded CBRE Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Three investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.