CBRE Group, Inc. $CBRE Shares Sold by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors LLC cut its CBRE Group stake by 8.1% in the first quarter, selling 65,073 shares and leaving it with 740,194 shares valued at about $100.3 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 98.41% of CBRE’s stock. Several large investors increased or initiated positions, including Norges Bank and Swedbank AB.
• Analysts remain broadly positive on CBRE, with a consensus rating of “Moderate Buy” and an average price target of $178.86, while the company also reported strong quarterly results that beat earnings and revenue estimates.

Manning & Napier Advisors LLC reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 740,194 shares of the financial services provider's stock after selling 65,073 shares during the period. CBRE Group accounts for about 1.4% of Manning & Napier Advisors LLC's holdings, making the stock its 22nd biggest position. Manning & Napier Advisors LLC owned about 0.25% of CBRE Group worth $100,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in CBRE Group during the fourth quarter worth $643,405,000. Swedbank AB lifted its position in shares of CBRE Group by 119.6% in the first quarter. Swedbank AB now owns 2,571,280 shares of the financial services provider's stock valued at $348,306,000 after acquiring an additional 1,400,452 shares in the last quarter. Viking Global Investors LP purchased a new stake in shares of CBRE Group in the third quarter valued at $190,648,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of CBRE Group by 5,115.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,017,355 shares of the financial services provider's stock valued at $163,581,000 after acquiring an additional 997,848 shares during the last quarter. Finally, XN LP acquired a new stake in shares of CBRE Group during the fourth quarter valued at $147,134,000. Hedge funds and other institutional investors own 98.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Evercore set a $169.00 target price on shares of CBRE Group in a research note on Tuesday, June 30th. Jefferies Financial Group reaffirmed a "buy" rating on shares of CBRE Group in a research note on Friday, May 15th. Barclays lifted their price target on shares of CBRE Group from $175.00 to $178.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen lowered shares of CBRE Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CBRE Group has a consensus rating of "Moderate Buy" and a consensus price target of $178.86.

CBRE Group Trading Down 1.2%

Shares of NYSE CBRE traded down $1.70 on Friday, reaching $139.36. 914,883 shares of the company traded hands, compared to its average volume of 1,867,326. CBRE Group, Inc. has a fifty-two week low of $121.69 and a fifty-two week high of $174.27. The company has a 50 day moving average of $134.96 and a 200 day moving average of $145.70. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $40.81 billion, a PE ratio of 31.75 and a beta of 1.20.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.48. CBRE Group had a net margin of 3.11% and a return on equity of 24.08%. The business had revenue of $10.53 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the prior year, the firm posted $0.86 EPS. The company's revenue was up 18.1% on a year-over-year basis. CBRE Group has set its FY 2026 guidance at 7.600-7.800 EPS. On average, equities research analysts forecast that CBRE Group, Inc. will post 7.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $130.74, for a total transaction of $294,165.00. Following the transaction, the chief financial officer owned 110,729 shares of the company's stock, valued at $14,476,709.46. This trade represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is currently owned by corporate insiders.

CBRE Group Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.

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