Victory Capital Management Inc. Sells 22,831 Shares of CBRE Group, Inc. (NYSE:CBRE)

Victory Capital Management Inc. trimmed its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 206,593 shares of the financial services provider's stock after selling 22,831 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of CBRE Group worth $27,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bridgewater Advisors Inc. bought a new position in shares of CBRE Group during the 1st quarter worth $355,000. Massachusetts Financial Services Co. MA boosted its position in CBRE Group by 217.4% during 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 purchasing an additional 2,680,337 shares in the last quarter. Sigma Planning Corp boosted its position in CBRE Group by 7.8% during the first quarter. Sigma Planning Corp now owns 2,123 shares of the financial services provider's stock valued at $278,000 after purchasing an additional 153 shares in the last quarter. Signaturefd LLC boosted its holdings in CBRE Group by 4.3% in the first quarter. Signaturefd LLC now owns 5,290 shares of the financial services provider's stock worth $692,000 after acquiring an additional 216 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in CBRE Group in the first quarter worth about $2,562,000. 98.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore ISI boosted their price objective on CBRE Group from $143.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Morgan Stanley restated an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. UBS Group boosted their price objective on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut 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. 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $152.78.

CBRE Group Stock Up 1.4%

Shares of NYSE CBRE opened at $141.48 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $42.18 billion, a price-to-earnings ratio of 43.27 and a beta of 1.30. CBRE Group, Inc. has a 1 year low of $96.38 and a 1 year high of $147.75. The stock's 50-day simple moving average is $133.13 and its 200-day simple moving average is $131.80.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, beating analysts' consensus estimates 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 17.37% and a net margin of 2.74%. CBRE Group's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, equities analysts anticipate 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, CFO Emma E. Giamartino sold 1,972 shares of the firm's 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 sale, the chief financial officer directly owned 105,371 shares of the company's stock, valued at approximately $13,603,396.10. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chad J. Doellinger sold 494 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 27,945 shares in the company, valued at approximately $3,522,467.25. This represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,031 shares of company stock valued at $814,080 in the last three months. 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.

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