Rafferty Asset Management LLC Has $5.20 Million Holdings in CBRE Group, Inc. (NYSE:CBRE)

Rafferty Asset Management LLC lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,581 shares of the financial services provider's stock after selling 3,235 shares during the quarter. Rafferty Asset Management LLC's holdings in CBRE Group were worth $5,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC bought a new stake in shares of CBRE Group during the fourth quarter valued at approximately $256,000. Manning & Napier Advisors LLC bought a new position in CBRE Group in the 4th quarter valued at $175,978,000. Robeco Institutional Asset Management B.V. boosted its position in CBRE Group by 12.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,983,867 shares of the financial services provider's stock valued at $391,752,000 after buying an additional 338,298 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CBRE Group in the 4th quarter valued at $36,643,000. Finally, Pacer Advisors Inc. raised its position in shares of CBRE Group by 12.5% during the fourth quarter. Pacer Advisors Inc. now owns 25,128 shares of the financial services provider's stock worth $3,299,000 after acquiring an additional 2,798 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.

CBRE Group Trading Down 5.8%

Shares of NYSE CBRE traded down $7.41 during midday trading on Wednesday, reaching $120.91. 2,552,997 shares of the stock were exchanged, compared to its average volume of 1,815,761. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The company has a market capitalization of $36.04 billion, a price-to-earnings ratio of 38.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The business has a 50-day simple moving average of $124.62 and a two-hundred day simple moving average of $132.03.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, equities research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CBRE shares. UBS Group lowered their price objective on CBRE Group from $146.00 to $130.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. StockNews.com downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a research note on Wednesday, April 30th. Raymond James lowered shares of CBRE Group from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $155.00 to $152.00 in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their price target on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.22.

Insider Buying and Selling

In related news, insider Chad J. Doellinger sold 494 shares of the company's stock in a transaction on Friday, May 2nd. The shares were 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 directly owns 27,945 shares of the company's stock, valued at approximately $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 accessible through this link. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the sale, the chief financial officer now directly owns 105,371 shares in the company, valued at $13,603,396.10. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,396 shares of company stock valued at $685,649. 0.42% of the stock is owned by corporate insiders.

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.