Prudential Financial Inc. Trims Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Prudential Financial Inc. trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 32.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,016 shares of the financial services provider’s stock after selling 95,255 shares during the period. Prudential Financial Inc. owned about 0.07% of CBRE Group worth $26,260,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Algert Global LLC purchased a new stake in CBRE Group during the 3rd quarter worth about $1,829,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of CBRE Group during the fourth quarter worth about $1,518,000. Merit Financial Group LLC purchased a new stake in shares of CBRE Group during the fourth quarter worth about $256,000. Fulton Bank N.A. raised its position in shares of CBRE Group by 342.0% in the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after buying an additional 19,227 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of CBRE Group by 17,304.5% during the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock valued at $477,000 after buying an additional 3,807 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares of the company’s stock, valued at approximately $13,491,941.67. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chad J. Doellinger sold 797 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total value of $100,669.07. Following the completion of the sale, the insider now directly owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

NYSE:CBRE opened at $132.70 on Thursday. The firm has a 50-day moving average of $137.75 and a two-hundred day moving average of $132.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The stock has a market cap of $39.81 billion, a P/E ratio of 42.26 and a beta of 1.42. CBRE Group, Inc. has a 1-year low of $84.24 and a 1-year high of $147.75.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CBRE shares. Morgan Stanley lifted their price objective on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research report on Friday, February 14th. Finally, Evercore ISI decreased their price target on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $149.89.

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.