CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its stake in CBRE Group, Inc. by 11.7%, selling 85,031 shares, leaving it with approximately 642,373 shares valued at $84 million.
• In the first quarter, other institutional investors also modified their holdings, with Commerce Bank increasing its position by 102.9%, now owning approximately 389,791 shares valued at nearly $51 million.
• Recent insider trading reported sales from company executives, with the CFO selling 1,972 shares for $254,585 and the CAO selling 1,935 shares for $270,900.

Mitsubishi UFJ Trust & Banking Corp lowered its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 642,373 shares of the financial services provider's stock after selling 85,031 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.22% of CBRE Group worth $84,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings 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 worth $511,781,000 after buying an additional 2,680,337 shares during the period. GAMMA Investing LLC raised its holdings in shares of CBRE Group by 20,889.0% in the first quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock valued at $168,896,000 after acquiring an additional 1,285,300 shares in the last quarter. Bessemer Group Inc. lifted its stake in CBRE Group by 8,046.9% in the fourth quarter. Bessemer Group Inc. now owns 1,140,315 shares of the financial services provider's stock worth $149,710,000 after acquiring an additional 1,126,318 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in CBRE Group by 85.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,147,783 shares of the financial services provider's stock worth $281,984,000 after acquiring an additional 991,354 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in CBRE Group by 212.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider's stock valued at $142,633,000 after purchasing an additional 741,477 shares during the period. Hedge funds and other institutional investors own 98.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on CBRE. Morgan Stanley reiterated 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. Raymond James Financial raised their target price on shares of CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group upped 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. JPMorgan Chase & Co. decreased their price objective on CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Evercore ISI boosted their target price on CBRE Group from $147.00 to $164.00 and gave the stock 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $158.00.

CBRE Group Stock Performance

NYSE CBRE traded up $2.13 on Monday, hitting $156.07. 1,805,032 shares of the company's stock traded hands, compared to its average volume of 1,660,285. The firm has a market capitalization of $46.44 billion, a PE ratio of 43.72 and a beta of 1.34. CBRE Group, Inc. has a 1-year low of $105.17 and a 1-year high of $161.03. The firm's 50-day moving average price is $137.49 and its two-hundred day moving average price is $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 posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. The company had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. As a group, analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In other 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 sale, the chief financial officer owned 105,371 shares of the company's stock, valued at $13,603,396.10. This trade represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,935 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total transaction of $270,900.00. Following the completion of the transaction, the chief accounting officer owned 20,131 shares of the company's stock, valued at approximately $2,818,340. This trade represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,898 shares of company stock valued at $1,122,558 over the last three months. 0.42% of the stock is currently owned by corporate insiders.

CBRE Group Company 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.