Harvest Fund Management Co. Ltd Sells 7,104 Shares of CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Harvest Fund Management Co. Ltd has drastically reduced its stake in CBRE Group, Inc., selling 7,104 shares and lowering its ownership by 91.8% in the first quarter.
• Despite Harvest's sell-off, other institutional investors like Principal Financial Group and Massachusetts Financial Services increased their positions in CBRE Group during the same period.
• CBRE Group recently reported an earnings per share of $1.19, exceeding analysts' expectations, and predicting a full-year EPS of 5.99.

Harvest Fund Management Co. Ltd lowered its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 91.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 637 shares of the financial services provider's stock after selling 7,104 shares during the period. Harvest Fund Management Co. Ltd's holdings in CBRE Group were worth $83,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of CBRE Group by 4.8% in 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 buying an additional 368,214 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CBRE Group by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider's stock valued at $1,035,229,000 after buying an additional 245,821 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of CBRE Group by 217.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock valued at $511,781,000 after buying an additional 2,680,337 shares in the last quarter. Northern Trust Corp increased its position in shares of CBRE Group by 12.6% in the 4th quarter. Northern Trust Corp now owns 3,789,513 shares of the financial services provider's stock valued at $497,525,000 after buying an additional 424,663 shares in the last quarter. Finally, Earnest Partners LLC increased its position in shares of CBRE Group by 1.4% in the 4th quarter. Earnest Partners LLC now owns 3,696,955 shares of the financial services provider's stock valued at $485,373,000 after buying an additional 49,862 shares in the last quarter. Institutional investors own 98.41% of the company's stock.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,972 shares of the 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 directly owned 105,371 shares in the company, valued at $13,603,396.10. This represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lindsey S. Caplan sold 1,935 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $270,900.00. Following the completion of the sale, the chief accounting officer owned 20,131 shares of the company's stock, valued at $2,818,340. This trade represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,031 shares of company stock valued at $1,139,304. Company insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CBRE shares. JPMorgan Chase & Co. lowered their price objective on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. UBS Group upped their target price on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 target price (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Raymond James Financial upped their target price on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Evercore ISI upped their target price on shares of CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, CBRE Group has a consensus rating of "Moderate Buy" and an average price target of $158.00.

CBRE Group Trading Down 1.1%

CBRE Group stock opened at $155.63 on Friday. The firm has a 50-day moving average of $136.84 and a 200-day moving average of $133.02. CBRE Group, Inc. has a one year low of $105.17 and a one year high of $161.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.00. The company has a market cap of $46.31 billion, a price-to-earnings ratio of 43.59 and a beta of 1.30.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The company had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, equities analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

CBRE Group Profile

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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