Allspring Global Investments Holdings LLC Sells 1,917,528 Shares of CBRE Group, Inc. (NYSE:CBRE)

Allspring Global Investments Holdings LLC trimmed its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 36.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,309,830 shares of the financial services provider's stock after selling 1,917,528 shares during the period. CBRE Group comprises approximately 0.8% of Allspring Global Investments Holdings LLC's holdings, making the stock its 16th largest holding. Allspring Global Investments Holdings LLC owned about 1.10% of CBRE Group worth $433,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of CBRE Group in the 4th quarter valued at $25,000. Investment Management Corp VA ADV acquired a new position in shares of CBRE Group in the 4th quarter valued at $28,000. Golden State Wealth Management LLC lifted its stake in shares of CBRE Group by 687.1% in the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 213 shares during the period. Colonial Trust Co SC lifted its stake in shares of CBRE Group by 183.7% in the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 180 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of CBRE Group by 1,400.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 266 shares during the period. 98.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. UBS Group dropped their price objective on CBRE Group from $146.00 to $130.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Wall Street Zen downgraded CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Keefe, Bruyette & Woods raised their price objective on CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 30th. 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $150.33.

CBRE Group Stock Up 1.0%

CBRE stock traded up $1.32 during trading hours on Friday, reaching $139.41. 2,667,164 shares of the stock were exchanged, compared to its average volume of 1,812,596. The firm's 50-day moving average is $127.80 and its 200-day moving average is $130.93. The company has a market cap of $41.56 billion, a price-to-earnings ratio of 42.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00. CBRE Group, Inc. has a 12 month low of $85.74 and a 12 month high of $147.75.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $8.91 billion during the quarter, compared to analysts' expectations of $8.73 billion. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The company's revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, equities research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 1,972 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer now owns 105,371 shares in the company, valued at $13,603,396.10. This trade represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lindsey S. Caplan sold 1,935 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total value of $270,900.00. Following the completion of the transaction, the chief accounting officer now owns 20,131 shares of the company's stock, valued at $2,818,340. The trade was a 8.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,031 shares of company stock worth $814,080. Corporate insiders own 0.42% of the company's stock.

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.