ING Groep NV decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) by 34.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 148,984 shares of the financial services provider’s stock after selling 77,427 shares during the quarter. ING Groep NV’s holdings in CBRE Group were worth $23,955,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBRE. Smartleaf Asset Management LLC raised its position in shares of CBRE Group by 43.0% during the third quarter. Smartleaf Asset Management LLC now owns 11,435 shares of the financial services provider’s stock valued at $1,818,000 after buying an additional 3,438 shares during the last quarter. Caprock Group LLC bought a new stake in shares of CBRE Group during the third quarter valued at approximately $3,030,000. Cornerstone Investment Partners LLC raised its position in shares of CBRE Group by 13.7% during the third quarter. Cornerstone Investment Partners LLC now owns 392,759 shares of the financial services provider’s stock valued at $61,883,000 after buying an additional 47,460 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of CBRE Group by 20.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 66,464 shares of the financial services provider’s stock valued at $10,472,000 after buying an additional 11,434 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of CBRE Group by 54.5% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,655 shares of the financial services provider’s stock valued at $3,254,000 after buying an additional 7,282 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.
CBRE Group Stock Up 0.1%
NYSE:CBRE opened at $131.09 on Friday. CBRE Group, Inc. has a twelve month low of $121.69 and a twelve month high of $174.27. The company has a market cap of $38.39 billion, a price-to-earnings ratio of 29.86 and a beta of 1.21. The stock has a fifty day simple moving average of $138.48 and a 200-day simple moving average of $149.64. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.
Analysts Set New Price Targets
CBRE has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of CBRE Group in a research report on Friday, May 15th. UBS Group raised shares of CBRE Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $175.00 to $185.00 in a report on Sunday, February 22nd. Barclays raised their target price on shares of CBRE Group from $175.00 to $178.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Weiss Ratings lowered shares of CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.29.
Read Our Latest Report on CBRE
Insider Buying and Selling at CBRE Group
In other news, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction on Friday, May 15th. The stock was sold at an average price of $130.74, for a total transaction of $294,165.00. Following the completion of the sale, the chief financial officer directly owned 110,729 shares in the company, valued at approximately $14,476,709.46. This trade represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chad J. Doellinger sold 471 shares of CBRE Group stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $133.51, for a total value of $62,883.21. Following the completion of the sale, the insider owned 42,519 shares of the company’s stock, valued at $5,676,711.69. The trade was a 1.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,944 shares of company stock valued at $387,153. Corporate insiders own 0.46% of the company’s stock.
CBRE Group Company Profile
CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.
In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.
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