Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 13.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,544 shares of the financial services provider's stock after selling 22,207 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in CBRE Group were worth $21,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock valued at $1,042,317,000 after purchasing an additional 368,214 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of CBRE Group by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider's stock worth $1,035,229,000 after buying an additional 245,821 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of CBRE Group by 17.3% in the fourth quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider's stock worth $538,390,000 after buying an additional 605,403 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of CBRE Group by 290.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock worth $531,736,000 after buying an additional 3,011,566 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of CBRE Group in the fourth quarter worth about $514,609,000. 98.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Raymond James Financial upped their target price on CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research note on Thursday. Morgan Stanley restated an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Evercore ISI increased their price target on CBRE Group from $143.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. UBS Group increased their price target on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded CBRE Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $156.11.
Check Out Our Latest Stock Analysis on CBRE
Insider Activity at CBRE Group
In related news, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction that occurred 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 owned 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lindsey S. Caplan sold 1,497 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total value of $209,580.00. Following the completion of the transaction, the chief accounting officer owned 28,211 shares of the company's stock, valued at $3,949,540. The trade was a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,031 shares of company stock valued at $814,080. 0.42% of the stock is currently owned by insiders.
CBRE Group Price Performance
Shares of CBRE Group stock traded up $2.78 during mid-day trading on Friday, reaching $147.37. 644,331 shares of the stock traded hands, compared to its average volume of 1,810,654. The business has a 50-day moving average of $134.15 and a 200 day moving average of $132.12. CBRE Group, Inc. has a fifty-two week low of $105.17 and a fifty-two week high of $147.75. The stock has a market capitalization of $43.93 billion, a PE ratio of 45.04 and a beta of 1.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.
CBRE Group (NYSE:CBRE - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The business had revenue of $8.91 billion during the quarter, compared to analysts' expectations of $8.73 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business's revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.
CBRE Group Company Profile
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Free Report)
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.
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