Farallon Capital Management LLC Sells 790,600 Shares of CBRE Group, Inc. (NYSE:CBRE)

Farallon Capital Management LLC cut its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,179,800 shares of the financial services provider's stock after selling 790,600 shares during the quarter. CBRE Group makes up approximately 1.5% of Farallon Capital Management LLC's portfolio, making the stock its 24th biggest position. Farallon Capital Management LLC owned 0.71% of CBRE Group worth $286,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of CBRE Group in the fourth quarter valued at approximately $514,609,000. Artisan Partners Limited Partnership raised its position in CBRE Group by 290.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock worth $531,736,000 after acquiring an additional 3,011,566 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in CBRE Group in the fourth quarter worth $190,695,000. Manning & Napier Advisors LLC purchased a new position in CBRE Group in the fourth quarter worth $175,978,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in CBRE Group by 11,750.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider's stock valued at $161,876,000 after purchasing an additional 1,222,558 shares during the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Stock Down 1.7%

CBRE traded down $2.21 during trading on Wednesday, reaching $129.15. 922,061 shares of the stock traded hands, compared to its average volume of 1,809,997. The stock's 50-day simple moving average is $124.26 and its two-hundred day simple moving average is $132.08. 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 $38.50 billion, a price-to-earnings ratio of 41.13 and a beta of 1.30. 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 released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The company had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter in the prior year, the company posted $0.78 EPS. The firm's revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the completion of the transaction, the chief financial officer now directly owns 107,343 shares of the company's stock, valued at $13,491,941.67. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total value of $100,669.07. Following the completion of the transaction, the insider now directly owns 28,735 shares of the company's stock, valued at $3,629,517.85. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,424 shares of company stock valued at $431,064 in the last ninety days. Company insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CBRE. JPMorgan Chase & Co. lowered their target price on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Raymond James lowered shares of CBRE Group from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $155.00 to $152.00 in a report on Friday, January 24th. UBS Group cut their price target on shares of CBRE Group from $146.00 to $130.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 30th. Finally, StockNews.com downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. 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 company currently has an average rating of "Moderate Buy" and an average price target of $149.22.

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.