California State Teachers Retirement System Reduces Stake in CBRE Group, Inc. (NYSE:CBRE)

California State Teachers Retirement System cut its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 494,873 shares of the financial services provider's stock after selling 39,715 shares during the period. California State Teachers Retirement System owned about 0.16% of CBRE Group worth $64,972,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Manning & Napier Advisors LLC purchased a new stake in shares of CBRE Group during the 4th quarter worth approximately $175,978,000. Robeco Institutional Asset Management B.V. raised its stake in CBRE Group by 12.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,983,867 shares of the financial services provider's stock worth $391,752,000 after acquiring an additional 338,298 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CBRE Group in the fourth quarter valued at $36,643,000. Pacer Advisors Inc. boosted its stake in CBRE Group by 12.5% in the fourth quarter. Pacer Advisors Inc. now owns 25,128 shares of the financial services provider's stock valued at $3,299,000 after acquiring an additional 2,798 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in CBRE Group by 69.1% in the fourth quarter. LPL Financial LLC now owns 69,863 shares of the financial services provider's stock valued at $9,172,000 after acquiring an additional 28,547 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

Shares of CBRE Group stock traded up $0.13 during trading hours on Friday, hitting $124.80. 5,352,242 shares of the company were exchanged, compared to its average volume of 1,838,839. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average of $123.48 and a 200-day moving average of $131.41. CBRE Group, Inc. has a 1 year low of $84.24 and a 1 year high of $147.75. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of 39.75 and a beta of 1.30.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The company 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 EPS. CBRE Group's revenue was up 12.3% compared to the same quarter last year. As a group, analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Insider Transactions at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the firm's stock in a transaction on 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 sale, the chief financial officer now owns 105,371 shares of the company's stock, valued at approximately $13,603,396.10. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad J. Doellinger sold 797 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,396 shares of company stock worth $685,649 over the last ninety days. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on CBRE shares. Morgan Stanley reduced 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. Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th. UBS Group cut their target price 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. Finally, JPMorgan Chase & Co. reduced their price target 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 research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $149.22.

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.