Jennison Associates LLC Has $39.70 Million Position in CBRE Group, Inc. (NYSE:CBRE)

Jennison Associates LLC lessened its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 426,417 shares of the financial services provider's stock after selling 54,923 shares during the quarter. Jennison Associates LLC owned approximately 0.14% of CBRE Group worth $39,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its stake in shares of CBRE Group by 190.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 497 shares of the financial services provider's stock valued at $37,000 after buying an additional 326 shares in the last quarter. Headinvest LLC bought a new stake in CBRE Group in the 3rd quarter valued at $44,000. Turtle Creek Wealth Advisors LLC bought a new stake in CBRE Group in the 4th quarter valued at $45,000. Bruce G. Allen Investments LLC bought a new stake in shares of CBRE Group in the 4th quarter worth about $48,000. Finally, Planned Solutions Inc. bought a new stake in shares of CBRE Group in the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 98.41% of the company's stock.

Insider Activity

In related news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the transaction, the chief financial officer now owns 72,350 shares in the company, valued at $6,766,895.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the transaction, the chief financial officer now owns 72,350 shares in the company, valued at approximately $6,766,895.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Chandra Dhandapani sold 11,925 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the completion of the transaction, the chief executive officer now owns 127,064 shares of the company's stock, valued at approximately $11,947,827.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,592 shares of company stock valued at $3,675,752. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com raised shares of CBRE Group from a "hold" rating to a "buy" rating in a research note on Tuesday. Raymond James upped their price target on shares of CBRE Group from $95.00 to $103.00 and gave the stock a "strong-buy" rating in a research report on Thursday, January 25th. Evercore ISI upped their price target on shares of CBRE Group from $103.00 to $104.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $96.00 to $100.00 and gave the stock a "market perform" rating in a research report on Friday, February 16th. Finally, TheStreet upgraded shares of CBRE Group from a "c+" rating to a "b-" rating in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $99.50.

CBRE Group Stock Performance

NYSE CBRE traded down $0.35 during mid-day trading on Wednesday, reaching $86.76. 988,864 shares of the stock were exchanged, compared to its average volume of 1,649,544. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $26.63 billion, a P/E ratio of 27.37 and a beta of 1.42. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $98.65. The business's 50 day moving average is $92.39 and its 200-day moving average is $85.19.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The firm had revenue of $8.95 billion during the quarter, compared to analysts' expectations of $8.44 billion. During the same period last year, the business earned $1.33 earnings per share. CBRE Group's revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts forecast that CBRE Group, Inc. will post 4.44 EPS for the current fiscal year.

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.