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Envestnet Asset Management Inc. Sells 73,222 Shares of CBRE Group, Inc. (NYSE:CBRE)

CBRE Group logo with Finance background

Envestnet Asset Management Inc. reduced its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 868,017 shares of the financial services provider's stock after selling 73,222 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of CBRE Group worth $113,519,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CBRE. SBI Securities Co. Ltd. bought a new stake in shares of CBRE Group during the 4th quarter worth about $25,000. Investment Management Corp VA ADV acquired a new position in CBRE Group during the 4th quarter valued at $28,000. Golden State Wealth Management LLC raised its stake in CBRE Group by 687.1% during the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 213 shares during the last quarter. Colonial Trust Co SC raised its stake in shares of CBRE Group by 183.7% in the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock valued at $36,000 after buying an additional 180 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of CBRE Group by 1,400.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock valued at $37,000 after buying an additional 266 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Price Performance

Shares of CBRE traded down $0.77 during mid-day trading on Friday, reaching $140.44. The company had a trading volume of 1,049,015 shares, compared to its average volume of 1,815,737. The company's 50 day simple moving average is $131.77 and its 200 day simple moving average is $131.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. CBRE Group, Inc. has a 1-year low of $93.31 and a 1-year high of $147.75. The company has a market capitalization of $41.87 billion, a price-to-earnings ratio of 42.95 and a beta of 1.30.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. The business had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same period last year, the company earned $0.78 EPS. The firm's revenue was up 12.3% compared to the same quarter last year. Analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In related news, insider Chad J. Doellinger sold 494 shares of CBRE Group 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 sale, the insider directly owned 27,945 shares in the company, valued at $3,522,467.25. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the sale, the chief financial officer owned 105,371 shares in the company, valued at approximately $13,603,396.10. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,031 shares of company stock worth $814,080 in the last ninety days. Company insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. dropped their target price on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Evercore ISI raised their target price on shares of CBRE Group from $143.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group currently has a consensus rating of "Moderate Buy" and an average target price of $152.78.

View Our Latest Stock Analysis on CBRE

CBRE Group Profile

(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.

See Also

Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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