Sterling Capital Management LLC Decreases Stake in CBRE Group, Inc. (NYSE:CBRE)

Sterling Capital Management LLC lessened its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 28.4% during the 4th quarter, Holdings Channel reports. The firm owned 186,799 shares of the financial services provider’s stock after selling 74,226 shares during the quarter. Sterling Capital Management LLC’s holdings in CBRE Group were worth $24,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Argent Trust Co grew its stake in CBRE Group by 15.4% during the 4th quarter. Argent Trust Co now owns 5,000 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 668 shares during the last quarter. Paralel Advisors LLC lifted its holdings in shares of CBRE Group by 10.0% during the fourth quarter. Paralel Advisors LLC now owns 25,819 shares of the financial services provider’s stock worth $3,390,000 after purchasing an additional 2,344 shares during the period. Treasurer of the State of North Carolina boosted its position in CBRE Group by 2.5% in the fourth quarter. Treasurer of the State of North Carolina now owns 176,743 shares of the financial services provider’s stock valued at $23,205,000 after buying an additional 4,267 shares during the last quarter. CenterBook Partners LP acquired a new position in CBRE Group in the 4th quarter worth approximately $760,000. Finally, Bessemer Group Inc. raised its position in CBRE Group by 8,046.9% during the 4th quarter. Bessemer Group Inc. now owns 1,140,315 shares of the financial services provider’s stock worth $149,710,000 after buying an additional 1,126,318 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, February 14th. Evercore ISI cut their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Raymond James lowered CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $155.00 to $152.00 in a research note on Friday, January 24th. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Finally, Morgan Stanley lifted their price target on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.44.

CBRE Group Trading Down 3.8 %

Shares of NYSE:CBRE opened at $116.69 on Friday. The firm has a market capitalization of $34.99 billion, a price-to-earnings ratio of 37.16 and a beta of 1.26. The business’s 50 day moving average price is $133.15 and its 200-day moving average price is $132.30. 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, Inc. has a 1 year low of $84.24 and a 1 year high of $147.75.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 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%. On average, equities research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

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

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.