Vanguard Group Inc. Cuts Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Vanguard Group Inc. cut its stake in CBRE Group, Inc. by 0.8%, owning 48,061,326 shares worth approximately $6.29 billion after selling 386,996 shares in the first quarter.
• Insider transactions include CFO Emma E. Giamartino and CAO Lindsey S. Caplan selling shares, reducing their holdings by 1.84% and 8.77%, respectively.
• Despite a slight 0.4% drop in CBRE stock, analysts maintain a consensus target price of $158.00, with multiple ratings indicating potential for growth.

Vanguard Group Inc. cut its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,061,326 shares of the financial services provider's stock after selling 386,996 shares during the quarter. Vanguard Group Inc. owned approximately 16.12% of CBRE Group worth $6,285,460,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CBRE. Principal Financial Group Inc. increased its holdings in 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 valued at $1,042,317,000 after buying an additional 368,214 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in CBRE Group by 217.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock valued at $511,781,000 after buying an additional 2,680,337 shares in the last quarter. Northern Trust Corp increased its holdings in CBRE Group by 12.6% in the fourth quarter. Northern Trust Corp now owns 3,789,513 shares of the financial services provider's stock valued at $497,525,000 after buying an additional 424,663 shares in the last quarter. Earnest Partners LLC increased its holdings in CBRE Group by 1.4% in the fourth quarter. Earnest Partners LLC now owns 3,696,955 shares of the financial services provider's stock valued at $485,373,000 after buying an additional 49,862 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CBRE Group by 10.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,025,256 shares of the financial services provider's stock valued at $397,186,000 after purchasing an additional 295,943 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Evercore ISI increased their price objective on shares of CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial increased their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Two investment 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 company's stock. According to data from MarketBeat.com, CBRE Group currently has an average rating of "Moderate Buy" and an average target price of $158.00.

CBRE Group Price Performance

Shares of CBRE Group stock traded up $1.14 during trading hours on Friday, reaching $155.50. 990,315 shares of the company's stock were exchanged, compared to its average volume of 1,746,201. CBRE Group, Inc. has a 1 year low of $107.54 and a 1 year high of $161.03. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $140.69 and a two-hundred day moving average of $133.89. The company has a market capitalization of $46.27 billion, a P/E ratio of 43.56 and a beta of 1.34.

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, 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 business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, research analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, CAO Lindsey S. Caplan sold 1,935 shares of the stock in a transaction on 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 directly owned 20,131 shares in the company, valued at approximately $2,818,340. This represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction on 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 of the company's stock, 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. In the last quarter, insiders have sold 7,898 shares of company stock worth $1,122,558. Insiders own 0.42% of the company's stock.

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.