State of Tennessee Department of Treasury Has $20.58 Million Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

State of Tennessee Department of Treasury decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,725 shares of the financial services provider's stock after selling 6,803 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.05% of CBRE Group worth $20,576,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in CBRE Group during the fourth quarter worth $514,609,000. Artisan Partners Limited Partnership grew its position in shares of CBRE Group by 290.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock valued at $531,736,000 after acquiring an additional 3,011,566 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in shares of CBRE Group during the 4th quarter worth about $190,695,000. Manning & Napier Advisors LLC bought a new stake in shares of CBRE Group in the 4th quarter valued at about $175,978,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in CBRE Group by 11,750.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider's stock valued at $161,876,000 after purchasing an additional 1,222,558 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now directly owns 107,343 shares of the company's stock, valued at $13,491,941.67. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chad J. Doellinger sold 797 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the transaction, the insider now owns 28,735 shares of the company's stock, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

CBRE Group Stock Performance

Shares of CBRE traded up $0.36 during mid-day trading on Monday, hitting $121.09. 278,154 shares of the company's stock were exchanged, compared to its average volume of 2,002,882. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75. The stock's 50-day simple moving average is $127.65 and its 200-day simple moving average is $132.10. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 38.55 and a beta of 1.26.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, equities research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group raised CBRE Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Raymond James lowered CBRE Group from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $155.00 to $152.00 in a report on Friday, January 24th. JPMorgan Chase & Co. dropped 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. Morgan Stanley reduced their price objective on shares of CBRE Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of CBRE Group from $145.00 to $129.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Three 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 an average rating of "Moderate Buy" and an average price target of $149.00.

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.