Russell Investments Group Ltd. Trims Position in CBRE Group, Inc. (NYSE:CBRE)

Russell Investments Group Ltd. trimmed its holdings in CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 4.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 537,322 shares of the financial services provider’s stock after selling 26,758 shares during the quarter. Russell Investments Group Ltd.’s holdings in CBRE Group were worth $36,291,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CBRE. FMR LLC grew its position in CBRE Group by 5.2% during the second quarter. FMR LLC now owns 10,999,939 shares of the financial services provider’s stock worth $809,706,000 after buying an additional 540,866 shares during the period. Principal Financial Group Inc. grew its position in CBRE Group by 4.6% during the second quarter. Principal Financial Group Inc. now owns 5,800,244 shares of the financial services provider’s stock worth $426,956,000 after buying an additional 254,346 shares during the period. Allspring Global Investments Holdings LLC grew its position in CBRE Group by 6.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,871,048 shares of the financial services provider’s stock worth $328,843,000 after buying an additional 279,500 shares during the period. Cantillon Capital Management LLC grew its position in CBRE Group by 3.2% during the second quarter. Cantillon Capital Management LLC now owns 4,545,033 shares of the financial services provider’s stock worth $334,560,000 after buying an additional 143,044 shares during the period. Finally, JPMorgan Chase & Co. grew its position in CBRE Group by 9.6% during the second quarter. JPMorgan Chase & Co. now owns 4,239,306 shares of the financial services provider’s stock worth $312,057,000 after buying an additional 369,875 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CBRE has been the topic of several research reports. Raymond James lowered their price target on shares of CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 20th. The Goldman Sachs Group lowered their price target on shares of CBRE Group from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Evercore ISI lowered their price target on shares of CBRE Group to $95.00 in a research report on Friday, September 30th. Finally, StockNews.com started coverage on shares of CBRE Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

CBRE Group Stock Performance

NYSE:CBRE opened at $83.20 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.17. The company has a market cap of $26.29 billion, a P/E ratio of 13.73 and a beta of 1.35. CBRE Group, Inc. has a fifty-two week low of $66.31 and a fifty-two week high of $106.60. The firm’s 50 day moving average is $78.74 and its two-hundred day moving average is $77.35.

CBRE Group (NYSE:CBRE – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The financial services provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.11). The company had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $7.90 billion. CBRE Group had a return on equity of 24.11% and a net margin of 6.47%. Analysts expect that CBRE Group, Inc. will post 5.54 EPS for the current year.

Insider Activity

In related news, CEO Daniel G. Queenan sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $80.08, for a total transaction of $400,400.00. Following the completion of the sale, the chief executive officer now directly owns 178,841 shares of the company’s stock, valued at approximately $14,321,587.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.43% of the company’s stock.

CBRE Group Profile

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CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.