Adage Capital Partners GP L.L.C. Decreases Holdings in CBRE Group, Inc. (NYSE:CBRE)

Adage Capital Partners GP L.L.C. lowered its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 7.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 686,000 shares of the financial services provider's stock after selling 52,900 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.22% of CBRE Group worth $90,065,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CBRE. SBI Securities Co. Ltd. bought a new stake in CBRE Group during the fourth quarter worth approximately $25,000. Denver PWM LLC purchased a new position in shares of CBRE Group during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its position in shares of CBRE Group by 610.9% during the fourth quarter. Larson Financial Group LLC now owns 327 shares of the financial services provider's stock valued at $43,000 after buying an additional 281 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in shares of CBRE Group by 190.4% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 238 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of CBRE Group in the fourth quarter valued at approximately $58,000. 98.41% of the stock is owned by institutional investors.

CBRE Group Trading Down 0.2 %

Shares of NYSE:CBRE traded down $0.27 during midday trading on Tuesday, reaching $121.10. 387,344 shares of the company's stock were exchanged, compared to its average volume of 1,821,362. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. The stock has a market cap of $36.31 billion, a price-to-earnings ratio of 38.50 and a beta of 1.26. The firm's 50 day simple moving average is $127.20 and its two-hundred day simple moving average is $132.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The business had revenue of $8.91 billion during the quarter, compared to analysts' expectations of $8.73 billion. During the same period last year, the business earned $0.78 earnings per share. The business's revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CBRE has been the subject of a number of research reports. Jefferies Financial Group upgraded CBRE Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Evercore ISI lowered their price target on CBRE Group from $147.00 to $141.00 and set an "outperform" rating for the company in a report on Monday, January 13th. Raymond James downgraded shares of CBRE Group from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. UBS Group decreased their target price on CBRE Group from $146.00 to $130.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley decreased their target price on CBRE Group from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $149.00.

Insiders Place Their Bets

In other news, insider Chad J. Doellinger sold 797 shares of CBRE Group 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 directly 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 stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

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.