Russell Investments Group Ltd. reduced its stake in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,536 shares of the financial services provider’s stock after selling 29,144 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of CBRE Group worth $38,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of CBRE. Bank Julius Baer & Co. Ltd Zurich lifted its position in CBRE Group by 98,156.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 220,922,882 shares of the financial services provider’s stock valued at $17,830,686,000 after buying an additional 220,698,040 shares during the period. Norges Bank bought a new position in CBRE Group during the fourth quarter valued at $255,749,000. London Co. of Virginia purchased a new stake in CBRE Group in the first quarter worth about $126,917,000. Wellington Management Group LLP lifted its stake in CBRE Group by 97.7% in the first quarter. Wellington Management Group LLP now owns 2,201,526 shares of the financial services provider’s stock worth $160,293,000 after acquiring an additional 1,087,893 shares during the period. Finally, Maverick Capital Ltd. purchased a new stake in CBRE Group in the fourth quarter worth about $65,416,000. 96.71% of the stock is owned by hedge funds and other institutional investors.
CBRE Group Trading Up 0.1 %
Shares of CBRE stock opened at $78.14 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $23.82 billion, a PE ratio of 41.79 and a beta of 1.39. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $89.58. The business’s fifty day moving average price is $73.56 and its 200 day moving average price is $78.26.
Insider Transactions at CBRE Group
In other news, CFO Emma E. Giamartino sold 1,064 shares of CBRE Group stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $76.53, for a total value of $81,427.92. Following the completion of the transaction, the chief financial officer now owns 53,685 shares in the company, valued at approximately $4,108,513.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Emma E. Giamartino sold 1,064 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $76.53, for a total value of $81,427.92. Following the completion of the sale, the chief financial officer now owns 53,685 shares in the company, valued at $4,108,513.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brandon B. Boze sold 1,200,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $84.41, for a total value of $101,292,000.00. Following the completion of the sale, the director now owns 4,637,748 shares of the company’s stock, valued at approximately $391,472,308.68. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently weighed in on CBRE shares. Evercore ISI lowered their price objective on shares of CBRE Group from $94.00 to $91.00 and set an “outperform” rating for the company in a research note on Monday, September 11th. StockNews.com began coverage on shares of CBRE Group in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Citigroup reaffirmed a “buy” rating and set a $98.00 price objective on shares of CBRE Group in a research note on Monday, September 18th. TheStreet cut shares of CBRE Group from a “b-” rating to a “c+” rating in a research note on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of CBRE Group from $93.00 to $85.00 in a research note on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.33.
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.
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