Assenagon Asset Management S.A. Cuts Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Assenagon Asset Management S.A. lessened its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 50.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 349,154 shares of the financial services provider’s stock after selling 361,744 shares during the quarter. Assenagon Asset Management S.A. owned about 0.11% of CBRE Group worth $45,840,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fifth Third Wealth Advisors LLC boosted its holdings in CBRE Group by 18.1% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,348 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 513 shares during the period. Greenfield Savings Bank raised its position in CBRE Group by 5.2% in the 4th quarter. Greenfield Savings Bank now owns 5,138 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 252 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of CBRE Group by 5.8% in the 4th quarter. Wedmont Private Capital now owns 3,747 shares of the financial services provider’s stock valued at $463,000 after buying an additional 206 shares during the period. Czech National Bank grew its position in shares of CBRE Group by 6.3% during the fourth quarter. Czech National Bank now owns 65,219 shares of the financial services provider’s stock worth $8,563,000 after buying an additional 3,860 shares in the last quarter. Finally, Graypoint LLC increased its stake in shares of CBRE Group by 11.2% during the fourth quarter. Graypoint LLC now owns 2,028 shares of the financial services provider’s stock worth $266,000 after buying an additional 205 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $131.55 on Thursday. The stock has a market cap of $40.26 billion, a P/E ratio of 42.30 and a beta of 1.39. CBRE Group, Inc. has a twelve month low of $82.75 and a twelve month high of $142.00. The stock has a 50 day moving average of $133.32 and a two-hundred day moving average of $120.55. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last released 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. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. CBRE Group’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CBRE. 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 report on Wednesday. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and increased their target price for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Evercore ISI decreased their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group assumed coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and an average target price of $145.44.

Insider Transactions at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction on Friday, November 15th. The stock was 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 $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.54% of the company’s stock.

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.