Kornitzer Capital Management Inc. KS Cuts Position in CBRE Group, Inc. (NYSE:CBRE)

Kornitzer Capital Management Inc. KS reduced its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 10.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,674 shares of the financial services provider's stock after selling 8,000 shares during the period. Kornitzer Capital Management Inc. KS's holdings in CBRE Group were worth $9,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of CBRE Group by 322.9% in the 4th quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider's stock valued at $1,903,000 after acquiring an additional 11,065 shares during the period. Proficio Capital Partners LLC bought a new position in shares of CBRE Group during the 4th quarter worth approximately $405,000. Independent Advisor Alliance increased its holdings in shares of CBRE Group by 34.9% during the 4th quarter. Independent Advisor Alliance now owns 2,217 shares of the financial services provider's stock worth $291,000 after acquiring an additional 574 shares during the last quarter. HighTower Advisors LLC lifted its holdings in CBRE Group by 175.0% during the 4th quarter. HighTower Advisors LLC now owns 62,347 shares of the financial services provider's stock valued at $8,185,000 after purchasing an additional 39,678 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in CBRE Group by 42.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 684 shares of the financial services provider's stock worth $90,000 after purchasing an additional 205 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CBRE Group news, insider Chad J. Doellinger sold 494 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $126.05, for a total value of $62,268.70. Following the completion of the sale, the insider directly owned 27,945 shares of the company's stock, valued at $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,935 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was 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 directly owned 20,131 shares of the company's stock, valued at $2,818,340. The trade was a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,031 shares of company stock valued at $814,080. Insiders own 0.42% of the company's stock.

CBRE Group Stock Up 0.6%

CBRE Group stock traded up $0.86 during midday trading on Thursday, reaching $139.21. The stock had a trading volume of 552,684 shares, compared to its average volume of 1,834,306. The company has a fifty day moving average price of $132.60 and a two-hundred day moving average price of $131.67. CBRE Group, Inc. has a 12 month low of $96.38 and a 12 month high of $147.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $41.50 billion, a P/E ratio of 42.56 and a beta of 1.30.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. The firm had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period last year, the firm earned $0.78 earnings per share. The business's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on CBRE. Wall Street Zen downgraded CBRE Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price objective (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. JPMorgan Chase & Co. cut their price target on CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Evercore ISI upped their target price on CBRE Group from $143.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised their price target on CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 30th. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.78.

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.