abrdn plc Decreases Stake in CBRE Group, Inc. (NYSE:CBRE)

abrdn plc cut its position in CBRE Group, Inc. (NYSE:CBRE) by 50.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 654,069 shares of the financial services provider’s stock after selling 658,598 shares during the period. abrdn plc owned 0.21% of CBRE Group worth $85,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CBRE. FMR LLC raised its stake in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after buying an additional 3,498,244 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in CBRE Group in the fourth quarter valued at approximately $175,978,000. Robeco Institutional Asset Management B.V. grew its position in shares of CBRE Group by 60.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after buying an additional 993,963 shares during the last quarter. State Street Corp grew its holdings in shares of CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after purchasing an additional 692,697 shares during the last quarter. Finally, Jennison Associates LLC increased its position in CBRE Group by 88.6% during the fourth quarter. Jennison Associates LLC now owns 716,086 shares of the financial services provider’s stock worth $94,015,000 after buying an additional 336,359 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CBRE shares. Keefe, Bruyette & Woods upped their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Morgan Stanley upgraded CBRE Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $115.00 to $160.00 in a research note on Wednesday, January 15th. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $155.00 to $152.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Finally, Evercore ISI cut their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and an average price target of $148.56.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

CBRE Group Trading Up 1.0 %

NYSE CBRE opened at $143.93 on Wednesday. The company has a market cap of $44.05 billion, a P/E ratio of 46.28 and a beta of 1.39. CBRE Group, Inc. has a 12 month low of $82.75 and a 12 month high of $147.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50-day moving average of $135.23 and a 200-day moving average of $125.37.

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.