Bank of New York Mellon Corp Sells 60,777 Shares of CBRE Group, Inc. (NYSE:CBRE)

Bank of New York Mellon Corp reduced its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,710,010 shares of the financial services provider's stock after selling 60,777 shares during the period. Bank of New York Mellon Corp owned 0.57% of CBRE Group worth $223,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CBRE. SBI Securities Co. Ltd. acquired a new stake in CBRE Group during the fourth quarter valued at approximately $25,000. Investment Management Corp VA ADV acquired a new stake in CBRE Group during the fourth quarter valued at approximately $28,000. Golden State Wealth Management LLC lifted its stake in CBRE Group by 687.1% during the first 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 last quarter. Colonial Trust Co SC lifted its stake in CBRE Group by 183.7% during the fourth 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in CBRE Group by 1,400.0% during the first 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 last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Stock Down 0.5%

CBRE Group stock traded down $0.77 during trading hours on Friday, hitting $140.44. The company had a trading volume of 1,049,015 shares, compared to its average volume of 1,815,737. The firm has a market capitalization of $41.87 billion, a P/E ratio of 42.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00. The firm's fifty day moving average is $131.50 and its 200-day moving average is $131.46. CBRE Group, Inc. has a fifty-two week low of $93.31 and a fifty-two week high of $147.75.

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

Wall Street Analyst Weigh In

Several research firms recently commented on CBRE. UBS Group increased their target price on shares of CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods increased their target price on shares of CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a research note on Wednesday, April 30th. Evercore ISI boosted their price target on shares of CBRE Group from $143.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen lowered shares of CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Three investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $152.78.

Insider Transactions at CBRE Group

In other news, insider Chad J. Doellinger sold 494 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total transaction of $62,268.70. Following the transaction, the insider owned 27,945 shares in the company, valued at $3,522,467.25. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the transaction, the chief financial officer owned 105,371 shares in the company, valued at approximately $13,603,396.10. This trade represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,031 shares of company stock worth $814,080 in the last 90 days. 0.42% of the stock is owned by 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.