CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,918 shares of the financial services provider’s stock after selling 3,690 shares during the period. Westpac Banking Corp’s holdings in CBRE Group were worth $4,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in CBRE Group by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock valued at $924,223,000 after purchasing an additional 277,922 shares in the last quarter. Townsquare Capital LLC increased its position in shares of CBRE Group by 70.9% during the third quarter. Townsquare Capital LLC now owns 5,595 shares of the financial services provider’s stock worth $696,000 after acquiring an additional 2,322 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of CBRE Group by 4.2% in the third quarter. Captrust Financial Advisors now owns 20,166 shares of the financial services provider’s stock worth $2,510,000 after acquiring an additional 815 shares in the last quarter. Verition Fund Management LLC boosted its holdings in CBRE Group by 33.5% in the third quarter. Verition Fund Management LLC now owns 13,422 shares of the financial services provider’s stock valued at $1,671,000 after purchasing an additional 3,370 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in CBRE Group during the 3rd quarter valued at approximately $2,168,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the firm’s 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chad J. Doellinger sold 797 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the sale, the insider now owns 28,735 shares in the company, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on CBRE. Raymond James cut 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 research note on Friday, January 24th. Evercore ISI decreased their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and upped their target price for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, Morgan Stanley increased their target price on CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Trading Up 2.0 %

NYSE:CBRE opened at $133.57 on Thursday. CBRE Group, Inc. has a 12-month low of $84.24 and a 12-month high of $147.75. 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 business has a 50 day simple moving average of $137.10 and a 200 day simple moving average of $132.55. The firm has a market capitalization of $40.08 billion, a P/E ratio of 42.54 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Equities research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

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.