Gluskin Sheff & Assoc Inc. Sells 6,144 Shares of CBRE Group, Inc. (NYSE:CBRE)

Gluskin Sheff & Assoc Inc. lessened its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,079 shares of the financial services provider’s stock after selling 6,144 shares during the quarter. Gluskin Sheff & Assoc Inc.’s holdings in CBRE Group were worth $5,976,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CBRE. Harris Associates L P raised its position in shares of CBRE Group by 11.2% during the fourth quarter. Harris Associates L P now owns 13,661,270 shares of the financial services provider’s stock valued at $1,051,371,000 after buying an additional 1,378,650 shares during the last quarter. Geode Capital Management LLC lifted its stake in CBRE Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 7,040,829 shares of the financial services provider’s stock worth $540,952,000 after purchasing an additional 34,736 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of CBRE Group by 3.2% during the 1st quarter. Franklin Resources Inc. now owns 5,613,032 shares of the financial services provider’s stock valued at $408,685,000 after purchasing an additional 173,675 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of CBRE Group by 3.3% during the 1st quarter. Bank of America Corp DE now owns 4,475,250 shares of the financial services provider’s stock valued at $325,843,000 after purchasing an additional 142,081 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of CBRE Group by 1.3% during the fourth quarter. JPMorgan Chase & Co. now owns 4,289,732 shares of the financial services provider’s stock valued at $330,138,000 after purchasing an additional 54,018 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Trading Up 0.2 %

Shares of NYSE CBRE traded up $0.13 during trading hours on Tuesday, hitting $85.49. 276,349 shares of the company traded hands, compared to its average volume of 1,640,774. The company’s 50 day moving average price is $84.66 and its 200 day moving average price is $78.78. CBRE Group, Inc. has a 12 month low of $66.31 and a 12 month high of $89.58. The stock has a market capitalization of $26.49 billion, a price-to-earnings ratio of 32.33 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.30 billion. CBRE Group had a net margin of 2.74% and a return on equity of 15.42%. CBRE Group’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 earnings per share. On average, equities research analysts anticipate that CBRE Group, Inc. will post 4.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CBRE has been the subject of a number of research reports. Raymond James dropped their price target on CBRE Group from $102.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Friday, July 28th. StockNews.com started coverage on shares of CBRE Group in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Evercore ISI decreased their price target on shares of CBRE Group from $94.00 to $91.00 and set an “outperform” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CBRE Group presently has an average rating of “Moderate Buy” and an average price target of $89.14.

Insiders Place Their Bets

In related news, CAO Lindsey S. Caplan sold 1,305 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $83.08, for a total transaction of $108,419.40. Following the completion of the transaction, the chief accounting officer now owns 17,215 shares in the company, valued at approximately $1,430,222.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CBRE Group news, Director Brandon B. Boze sold 3,400,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $80.80, for a total value of $274,720,000.00. Following the completion of the sale, the director now directly owns 5,837,748 shares in the company, valued at approximately $471,690,038.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,305 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $83.08, for a total value of $108,419.40. Following the transaction, the chief accounting officer now directly owns 17,215 shares in the company, valued at approximately $1,430,222.20. The disclosure for this sale can be found here. Insiders sold a total of 4,607,856 shares of company stock valued at $376,671,359 over the last 90 days. Insiders own 0.53% of the company’s stock.

CBRE Group Profile

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 of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, 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.