Sendero Wealth Management LLC Trims Position in CBRE Group, Inc. (NYSE:CBRE)

Sendero Wealth Management LLC decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 28.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,458 shares of the financial services provider’s stock after selling 22,358 shares during the quarter. CBRE Group makes up 1.1% of Sendero Wealth Management LLC’s holdings, making the stock its 23rd largest holding. Sendero Wealth Management LLC’s holdings in CBRE Group were worth $7,281,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in CBRE Group in the 2nd quarter worth approximately $656,000. American Century Companies Inc. lifted its holdings in shares of CBRE Group by 28.6% in the second quarter. American Century Companies Inc. now owns 59,809 shares of the financial services provider’s stock worth $5,330,000 after buying an additional 13,284 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of CBRE Group by 110.7% in the second quarter. Federated Hermes Inc. now owns 8,879 shares of the financial services provider’s stock worth $791,000 after buying an additional 4,665 shares in the last quarter. Rathbones Group PLC boosted its position in shares of CBRE Group by 3.0% during the second quarter. Rathbones Group PLC now owns 4,774 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 140 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in CBRE Group by 0.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 59,187 shares of the financial services provider’s stock valued at $5,274,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup increased their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods raised their price target on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Evercore ISI decreased their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and raised their target price for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Finally, Morgan Stanley upgraded shares of CBRE Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $115.00 to $160.00 in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.44.

CBRE Group Stock Up 5.3 %

NYSE CBRE opened at $131.55 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a 52 week low of $82.75 and a 52 week high of $142.00. The firm has a market capitalization of $40.26 billion, a price-to-earnings ratio of 42.30 and a beta of 1.39. The company has a fifty day moving average of $133.32 and a two-hundred day moving average of $120.55.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current 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.