Patton Fund Management Inc. Trims Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Patton Fund Management Inc. lessened its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 22.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,282 shares of the financial services provider's stock after selling 12,169 shares during the quarter. CBRE Group comprises 1.3% of Patton Fund Management Inc.'s investment portfolio, making the stock its 17th biggest holding. Patton Fund Management Inc.'s holdings in CBRE Group were worth $5,399,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC grew its position in shares of CBRE Group by 1.4% during the fourth quarter. Meridian Wealth Management LLC now owns 5,192 shares of the financial services provider's stock worth $682,000 after acquiring an additional 71 shares during the last quarter. Signaturefd LLC boosted its stake in CBRE Group by 2.0% during the 4th quarter. Signaturefd LLC now owns 5,074 shares of the financial services provider's stock worth $666,000 after purchasing an additional 99 shares during the period. IFP Advisors Inc increased its stake in CBRE Group by 9.1% in the fourth quarter. IFP Advisors Inc now owns 1,203 shares of the financial services provider's stock valued at $158,000 after purchasing an additional 100 shares during the period. Fidelis Capital Partners LLC raised its holdings in shares of CBRE Group by 2.6% in the fourth quarter. Fidelis Capital Partners LLC now owns 4,098 shares of the financial services provider's stock valued at $584,000 after buying an additional 104 shares during the last quarter. Finally, Howard Capital Management Inc. raised its holdings in shares of CBRE Group by 4.7% in the fourth quarter. Howard Capital Management Inc. now owns 2,398 shares of the financial services provider's stock valued at $315,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

CBRE Group Price Performance

CBRE Group stock traded down $1.92 during midday trading on Tuesday, reaching $132.18. The company's stock had a trading volume of 1,238,721 shares, compared to its average volume of 1,820,455. The firm has a market capitalization of $39.40 billion, a PE ratio of 42.10 and a beta of 1.29. CBRE Group, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $147.75. The stock's 50 day simple moving average is $124.60 and its 200 day simple moving average is $130.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The business had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The business's revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. On average, equities research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the transaction, the chief financial officer now owns 105,371 shares in the company, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chad J. Doellinger sold 494 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 27,945 shares in the company, valued at $3,522,467.25. This represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,599 shares of company stock valued at $333,600. Corporate insiders own 0.42% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CBRE. Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Keefe, Bruyette & Woods boosted their target price 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 decreased their price target on CBRE Group from $146.00 to $130.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wall Street Zen cut shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. reduced their target price on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $150.33.

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.