Parallel Advisors LLC Sells 426 Shares of CBRE Group, Inc. (NYSE:CBRE)

Parallel Advisors LLC decreased its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 7.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,505 shares of the financial services provider’s stock after selling 426 shares during the period. Parallel Advisors LLC’s holdings in CBRE Group were worth $723,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CBRE. FMR LLC boosted its holdings in CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in CBRE Group in the 4th quarter valued at about $190,695,000. Manning & Napier Advisors LLC bought a new stake in CBRE Group in the 4th quarter valued at about $175,978,000. Los Angeles Capital Management LLC boosted its holdings in CBRE Group by 1,499.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock valued at $139,162,000 after purchasing an additional 993,687 shares during the period. Finally, State Street Corp boosted its holdings in CBRE Group by 5.4% in the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after purchasing an additional 692,697 shares during the period. Institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

CBRE stock opened at $130.13 on Friday. The company has a 50 day simple moving average of $137.22 and a 200 day simple moving average of $131.43. The stock has a market cap of $39.04 billion, a price-to-earnings ratio of 41.44 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. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13.

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

Insider Buying and Selling

In other CBRE Group news, insider Chad J. Doellinger sold 797 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 28,735 shares in the company, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of 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 disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CBRE has been the subject of a number of recent research reports. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Citigroup boosted 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. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $163.00 in a report on Monday, December 16th. StockNews.com raised shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Evercore ISI cut their price target 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. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.89.

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.