Community Bank & Trust Waco Texas Trims Position in CBRE Group, Inc. (NYSE:CBRE)

Community Bank & Trust Waco Texas cut its position in CBRE Group, Inc. (NYSE:CBRE) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,367 shares of the financial services provider’s stock after selling 2,059 shares during the period. Community Bank & Trust Waco Texas’ holdings in CBRE Group were worth $1,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of CBRE Group by 15.1% during the third quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock worth $503,786,000 after acquiring an additional 894,521 shares during the last quarter. Eminence Capital LP bought a new position in shares of CBRE Group during the third quarter worth $45,494,000. Harris Associates L P boosted its position in shares of CBRE Group by 4.0% during the third quarter. Harris Associates L P now owns 15,321,916 shares of the financial services provider’s stock worth $1,131,677,000 after acquiring an additional 586,661 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in CBRE Group by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,824,186 shares of the financial services provider’s stock valued at $430,175,000 after purchasing an additional 294,954 shares during the last quarter. Finally, FMR LLC lifted its position in CBRE Group by 3.1% during the third quarter. FMR LLC now owns 9,465,982 shares of the financial services provider’s stock valued at $699,157,000 after purchasing an additional 288,287 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a report on Tuesday, April 2nd. Raymond James raised 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 note on Thursday, January 25th. StockNews.com raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised 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 note on Friday, February 16th. Finally, Jefferies Financial Group began coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price target on the stock. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.50.

CBRE Group Stock Performance

CBRE stock traded down $0.83 during trading on Wednesday, reaching $86.28. The company had a trading volume of 230,417 shares, compared to its average volume of 1,639,574. The firm has a 50-day simple moving average of $92.40 and a 200-day simple moving average of $85.18. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 27.48 and a beta of 1.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $98.65.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The company 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 EPS. CBRE Group’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side analysts expect that CBRE Group, Inc. will post 4.44 earnings per share for the current year.

Insider Activity

In related news, CEO John E. Durburg sold 25,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the sale, the chief executive officer now directly owns 207,856 shares of the company’s stock, valued at $19,164,323.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CBRE Group news, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction on 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 directly owns 127,064 shares in the company, valued at $11,947,827.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Durburg sold 25,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the transaction, the chief executive officer now owns 207,856 shares of the company’s stock, valued at $19,164,323.20. The disclosure for this sale can be found here. Insiders have sold 39,592 shares of company stock valued at $3,675,752 in the last ninety days. Insiders own 0.54% of the company’s stock.

About CBRE Group

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.