M&T Bank Corp Sells 2,345 Shares of CBRE Group, Inc. (NYSE:CBRE)

M&T Bank Corp cut its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,122 shares of the financial services provider's stock after selling 2,345 shares during the period. M&T Bank Corp's holdings in CBRE Group were worth $5,116,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sowell Financial Services LLC acquired a new stake in CBRE Group during the 1st quarter valued at $256,000. Cambridge Investment Research Advisors Inc. increased its holdings in CBRE Group by 21.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider's stock valued at $968,000 after purchasing an additional 1,310 shares in the last quarter. USA Financial Formulas acquired a new stake in CBRE Group during the 1st quarter valued at $1,101,000. Golden State Wealth Management LLC increased its holdings 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in CBRE Group during the 4th quarter valued at $36,643,000. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Trading Down 0.5%

Shares of CBRE Group stock traded down $0.77 during trading on Friday, reaching $140.44. 1,049,015 shares of the company were exchanged, compared to its average volume of 1,815,737. 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 twelve month low of $93.31 and a twelve month high of $147.75. The business has a 50-day moving average price of $131.50 and a 200-day moving average price of $131.46. The firm 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 announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The business had revenue of $8.91 billion during the quarter, compared to analysts' expectations of $8.73 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. UBS Group raised their price target on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods raised their price target on CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target 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, Morgan Stanley restated an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group currently has an average rating of "Moderate Buy" and an average target price of $152.78.

Insider Buying and Selling

In related news, CAO Lindsey S. Caplan sold 1,497 shares of CBRE Group stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total transaction of $209,580.00. Following the completion of the sale, the chief accounting officer directly owned 28,211 shares of the company's stock, valued at $3,949,540. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $254,585.20. Following the transaction, 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 sold a total of 6,031 shares of company stock valued at $814,080 over the last three months. Company insiders own 0.42% of the company's stock.

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.