NorthCrest Asset Manangement LLC Lowers Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

NorthCrest Asset Manangement LLC lowered its position in CBRE Group, Inc. (NYSE:CBRE) by 24.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,849 shares of the financial services provider’s stock after selling 12,615 shares during the period. NorthCrest Asset Manangement LLC’s holdings in CBRE Group were worth $5,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of CBRE Group during the 4th quarter valued at $514,609,000. Artisan Partners Limited Partnership grew its position in shares of CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after buying an additional 3,011,566 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in CBRE Group in the 4th quarter worth about $190,695,000. GAMMA Investing LLC lifted its stake in shares of CBRE Group by 20,889.0% in the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider’s stock worth $168,896,000 after acquiring an additional 1,285,300 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of CBRE Group by 11,750.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider’s stock worth $161,876,000 after acquiring an additional 1,222,558 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Stock Down 2.0%

Shares of NYSE:CBRE opened at $132.87 on Friday. The company has a 50 day moving average of $124.20 and a 200-day moving average of $131.14. CBRE Group, Inc. has a one year low of $85.74 and a one year high of $147.75. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 42.32 and a beta of 1.29. 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 announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The firm had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Transactions at CBRE Group

In related news, insider Chad J. Doellinger sold 494 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total transaction of $62,268.70. Following the transaction, the insider now directly owns 27,945 shares in the company, valued at approximately $3,522,467.25. The trade was a 1.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the transaction, the chief financial officer now owns 105,371 shares in the company, valued at approximately $13,603,396.10. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,599 shares of company stock valued at $584,980 over the last 90 days. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on CBRE shares. Morgan Stanley increased their target price on shares of CBRE Group from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. UBS Group dropped their price target on shares of CBRE Group from $146.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and an average target price of $150.33.

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.