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Mackenzie Financial Corp Sells 73,769 Shares of CBRE Group, Inc. (NYSE:CBRE)

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Key Points

  • Mackenzie Financial Corp has reduced its stake in CBRE Group, Inc. by 63.8%, now holding shares valued at $5.47 million after selling 73,769 shares.
  • Institutional investors and hedge funds collectively own 98.41% of CBRE Group's stock, indicating significant interest from large financial players.
  • CBRE Group's stock opened at $153.89, with a market cap of $45.79 billion and a recent quarterly EPS that exceeded analyst expectations, reported at $1.19.
  • Five stocks to consider instead of CBRE Group.

Mackenzie Financial Corp lessened its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 63.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,849 shares of the financial services provider's stock after selling 73,769 shares during the quarter. Mackenzie Financial Corp's holdings in CBRE Group were worth $5,473,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Sowell Financial Services LLC purchased a new stake in shares of CBRE Group during the first quarter worth about $256,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of CBRE Group by 21.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider's stock worth $968,000 after acquiring an additional 1,310 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of CBRE Group in the first quarter worth approximately $1,101,000. Golden State Wealth Management LLC boosted its position in shares of CBRE Group by 687.1% in the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after acquiring an additional 213 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of CBRE Group by 4.8% in the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock worth $1,042,317,000 after acquiring an additional 368,214 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

Analyst Upgrades and Downgrades

CBRE has been the topic of a number of recent research reports. Raymond James Financial boosted their target price on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. UBS Group lifted their price target 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 restated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. JPMorgan Chase & Co. lowered 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. Finally, Evercore ISI boosted their target price on shares of CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.00.

Get Our Latest Research Report on CBRE Group

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the transaction, the chief financial officer owned 105,371 shares in the company, valued at $13,603,396.10. The trade was a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lindsey S. Caplan sold 1,494 shares of CBRE Group stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total value of $232,122.78. Following the transaction, the chief accounting officer owned 26,717 shares in the company, valued at $4,151,020.29. This trade represents a 5.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,898 shares of company stock valued at $1,122,558. Corporate insiders own 0.42% of the company's stock.

CBRE Group Stock Performance

CBRE stock traded up $2.13 during midday trading on Monday, hitting $156.07. The stock had a trading volume of 1,805,032 shares, compared to its average volume of 1,660,285. The firm has a market capitalization of $46.44 billion, a price-to-earnings ratio of 43.72 and a beta of 1.34. CBRE Group, Inc. has a 52 week low of $105.17 and a 52 week high of $161.03. The stock has a 50-day simple moving average of $137.49 and a 200 day simple moving average of $133.22. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

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

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.

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

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