Sumitomo Mitsui Trust Holdings Inc. Decreases Stake in CBRE Group, Inc. (NYSE:CBRE)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in CBRE Group, Inc. (NYSE:CBRE) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 830,100 shares of the financial services provider’s stock after selling 58,692 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of CBRE Group worth $77,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CBRE. Norges Bank acquired a new stake in shares of CBRE Group during the 4th quarter worth about $255,749,000. Principal Financial Group Inc. increased its position in CBRE Group by 15.1% during the third quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock worth $503,786,000 after buying an additional 894,521 shares during the period. Maverick Capital Ltd. acquired a new position in CBRE Group during the fourth quarter worth approximately $65,416,000. Balyasny Asset Management L.P. increased its position in CBRE Group by 26,570.0% during the first quarter. Balyasny Asset Management L.P. now owns 800,900 shares of the financial services provider’s stock worth $58,314,000 after buying an additional 797,897 shares during the period. Finally, Renaissance Technologies LLC increased its position in CBRE Group by 150.3% during the first quarter. Renaissance Technologies LLC now owns 1,320,100 shares of the financial services provider’s stock worth $120,816,000 after buying an additional 792,717 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 2,667 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $93.53, for a total transaction of $249,444.51. Following the sale, the chief financial officer now owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Chandra Dhandapani sold 11,925 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the sale, the chief executive officer now owns 127,064 shares of the company’s stock, valued at $11,947,827.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 2,667 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the sale, the chief financial officer now directly owns 72,350 shares in the company, valued at approximately $6,766,895.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,592 shares of company stock worth $3,675,752. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TheStreet raised CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Raymond James boosted their target price on CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Jefferies Financial Group assumed coverage on CBRE Group in a report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a report on Friday, February 16th. Finally, Evercore ISI boosted their target price on CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.50.

CBRE Group Stock Down 0.4 %

CBRE Group stock opened at $85.13 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.17 and a quick ratio of 1.17. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $98.65. The company has a market cap of $26.13 billion, a PE ratio of 26.85 and a beta of 1.42. The stock’s 50 day moving average price is $92.45 and its 200 day moving average price is $84.70.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. The company had revenue of $8.95 billion for the quarter, compared to the consensus estimate of $8.44 billion. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. CBRE Group’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. On average, sell-side analysts predict that CBRE Group, Inc. will post 4.44 EPS for the current fiscal year.

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.