Wright Investors Service Inc. Lowers Holdings in CBRE Group, Inc. (NYSE:CBRE)

Wright Investors Service Inc. trimmed its position in CBRE Group, Inc. (NYSE:CBRE) by 23.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,587 shares of the financial services provider’s stock after selling 15,482 shares during the period. CBRE Group makes up about 1.3% of Wright Investors Service Inc.’s holdings, making the stock its 18th biggest position. Wright Investors Service Inc.’s holdings in CBRE Group were worth $4,616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harris Associates L P lifted its holdings in CBRE Group by 4.0% in the third quarter. Harris Associates L P now owns 15,321,916 shares of the financial services provider’s stock valued at $1,131,677,000 after acquiring an additional 586,661 shares during the period. FMR LLC lifted its holdings in CBRE Group by 3.1% in the third quarter. FMR LLC now owns 9,465,982 shares of the financial services provider’s stock valued at $699,157,000 after acquiring an additional 288,287 shares during the period. Geode Capital Management LLC lifted its holdings in CBRE Group by 2.1% in the first quarter. Geode Capital Management LLC now owns 7,189,800 shares of the financial services provider’s stock valued at $522,405,000 after acquiring an additional 148,971 shares during the period. Invesco Ltd. lifted its holdings in CBRE Group by 0.4% in the third quarter. Invesco Ltd. now owns 7,083,778 shares of the financial services provider’s stock valued at $523,208,000 after acquiring an additional 28,316 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in CBRE Group by 15.1% in the third quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock valued at $503,786,000 after acquiring an additional 894,521 shares during the period. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Price Performance

CBRE Group stock traded up $0.79 during midday trading on Thursday, reaching $85.93. 304,454 shares of the company were exchanged, compared to its average volume of 1,629,580. 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 $26.38 billion, a price-to-earnings ratio of 26.90 and a beta of 1.42. The firm’s 50-day simple moving average is $92.45 and its 200-day simple moving average is $84.70. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $98.65.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.21 by $0.17. The company had revenue of $8.95 billion during the quarter, compared to analysts’ expectations of $8.44 billion. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. On average, analysts anticipate that CBRE Group, Inc. will post 4.44 EPS for the current year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CEO John E. Durburg sold 25,000 shares of CBRE Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the completion of the sale, the chief executive officer now owns 207,856 shares in the company, valued at approximately $19,164,323.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John E. Durburg sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the sale, the chief executive officer now owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The disclosure for this sale can be found here. Insiders sold 39,592 shares of company stock worth $3,675,752 in the last 90 days. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on CBRE. StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Evercore ISI lifted their price target on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 2nd. Raymond James lifted their price target on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. TheStreet raised CBRE Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group started coverage on CBRE Group in a research report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective for the company. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.50.

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.