Comerica Bank Has $12.30 Million Holdings in CBRE Group, Inc. (NYSE:CBRE)

Comerica Bank lifted its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,645 shares of the financial services provider's stock after buying an additional 9,372 shares during the period. Comerica Bank's holdings in CBRE Group were worth $12,295,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CBRE. Adelante Capital Management LLC grew its holdings in shares of CBRE Group by 30.0% in the 4th quarter. Adelante Capital Management LLC now owns 45,309 shares of the financial services provider's stock worth $5,949,000 after acquiring an additional 10,468 shares during the period. Untitled Investments LP acquired a new stake in CBRE Group in the fourth quarter valued at $13,434,000. AQR Capital Management LLC grew its holdings in CBRE Group by 278.5% in the fourth quarter. AQR Capital Management LLC now owns 942,937 shares of the financial services provider's stock valued at $123,798,000 after purchasing an additional 693,816 shares during the last quarter. Lido Advisors LLC raised its stake in shares of CBRE Group by 7.7% during the 4th quarter. Lido Advisors LLC now owns 8,035 shares of the financial services provider's stock worth $1,055,000 after buying an additional 577 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in CBRE Group by 12.6% during the 4th quarter. Northern Trust Corp now owns 3,789,513 shares of the financial services provider's stock valued at $497,525,000 after acquiring an additional 424,663 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Stock Down 1.6 %

NYSE CBRE traded down $1.97 during trading hours on Tuesday, hitting $124.00. The company had a trading volume of 1,048,674 shares, compared to its average volume of 1,817,813. The firm's 50 day moving average is $125.71 and its 200 day moving average is $132.09. The company has a market capitalization of $36.96 billion, a price-to-earnings ratio of 39.49 and a beta of 1.30. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. 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 posted its earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $8.73 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 107,343 shares of the company's stock, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad J. Doellinger sold 797 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the transaction, the insider now directly owns 28,735 shares in the company, valued at $3,629,517.85. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,424 shares of company stock worth $431,064 in the last three months. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CBRE shares. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 30th. 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. Morgan Stanley dropped their price objective on CBRE Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Evercore ISI decreased their price target on shares of CBRE Group from $147.00 to $141.00 and set an "outperform" rating on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CBRE Group presently has an average rating of "Moderate Buy" and a consensus target price of $149.22.

CBRE Group 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.