NorthCrest Asset Manangement LLC Lowers Position in CBRE Group, Inc. (NYSE:CBRE)

NorthCrest Asset Manangement LLC decreased its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,849 shares of the financial services provider's stock after selling 12,615 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in CBRE Group were worth $5,081,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in CBRE Group by 322.9% in the 4th quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider's stock worth $1,903,000 after buying an additional 11,065 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of CBRE Group in the fourth quarter worth $7,549,000. Empowered Funds LLC increased its position in CBRE Group by 236.3% during the fourth quarter. Empowered Funds LLC now owns 16,056 shares of the financial services provider's stock worth $2,108,000 after acquiring an additional 11,282 shares during the period. Kestra Private Wealth Services LLC raised its stake in CBRE Group by 119.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 5,428 shares of the financial services provider's stock valued at $713,000 after purchasing an additional 2,959 shares during the last quarter. Finally, Savant Capital LLC raised its stake in CBRE Group by 19.0% during the 4th quarter. Savant Capital LLC now owns 6,875 shares of the financial services provider's stock valued at $903,000 after purchasing an additional 1,098 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CBRE shares. JPMorgan Chase & Co. reduced their price objective on CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Morgan Stanley upped their target price on CBRE Group from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday. Finally, UBS Group dropped their price objective on shares of CBRE Group from $146.00 to $130.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three equities research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $150.33.

CBRE Group Stock Performance

CBRE stock traded down $2.65 during mid-day trading on Friday, hitting $132.87. 1,097,705 shares of the company were exchanged, compared to its average volume of 1,826,725. CBRE Group, Inc. has a 1-year low of $85.74 and a 1-year high of $147.75. The stock has a market capitalization of $39.61 billion, a PE ratio of 42.32 and a beta of 1.29. The business has a 50 day simple moving average of $124.20 and a 200-day simple moving average of $131.14. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. CBRE Group's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. On average, equities analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, insider Chad J. Doellinger sold 494 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $126.05, for a total value of $62,268.70. Following the completion of the transaction, the insider now owns 27,945 shares in the company, valued at $3,522,467.25. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares of the company's stock, valued at approximately $13,491,941.67. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,599 shares of company stock valued at $584,980. 0.42% of the stock is currently owned by company 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.