Jennison Associates LLC Sells 58,979 Shares of CBRE Group, Inc. (NYSE:CBRE)

Jennison Associates LLC lessened its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 657,107 shares of the financial services provider's stock after selling 58,979 shares during the period. Jennison Associates LLC owned approximately 0.22% of CBRE Group worth $85,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in shares of CBRE Group in the 4th quarter worth approximately $28,000. Hughes Financial Services LLC bought a new stake in shares of CBRE Group in the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC raised its holdings in shares of CBRE Group by 687.1% in the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after purchasing an additional 213 shares during the period. Colonial Trust Co SC raised its holdings 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 worth $36,000 after purchasing an additional 180 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in CBRE Group by 1,400.0% during 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 acquiring an additional 266 shares during the period. Hedge funds and other institutional investors own 98.41% of the company's stock.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the firm's stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, 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 sale, the insider owned 27,945 shares in the company, valued at approximately $3,522,467.25. The trade was a 1.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,031 shares of company stock valued at $814,080. Corporate insiders own 0.42% of the company's stock.

CBRE Group Trading Up 1.3%

Shares of NYSE:CBRE traded up $1.86 during midday trading on Tuesday, hitting $143.30. 1,257,051 shares of the stock traded hands, compared to its average volume of 1,809,154. The stock has a market capitalization of $42.72 billion, a PE ratio of 43.82 and a beta of 1.30. The business's 50 day moving average is $133.13 and its two-hundred day moving average is $131.80. 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, Inc. has a one year low of $97.85 and a one year high of $147.75.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. CBRE Group's revenue was up 12.3% on a year-over-year basis. As a group, research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CBRE. Morgan Stanley reissued an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th. Evercore ISI boosted their price target on shares of CBRE Group from $143.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. 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 report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. cut their price target 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. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.