Handelsbanken Fonder AB Reduces Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Handelsbanken Fonder AB trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,547 shares of the financial services provider’s stock after selling 6,396 shares during the quarter. Handelsbanken Fonder AB’s holdings in CBRE Group were worth $3,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of CBRE Group by 15.1% in 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 last quarter. Eminence Capital LP purchased a new stake in shares of CBRE Group in the third quarter worth about $45,494,000. Harris Associates L P boosted its stake in shares of CBRE Group by 4.0% in the third quarter. Harris Associates L P now owns 15,321,916 shares of the financial services provider’s stock worth $1,131,677,000 after buying an additional 586,661 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of CBRE Group by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,824,186 shares of the financial services provider’s stock worth $430,175,000 after buying an additional 294,954 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of CBRE Group by 3.1% in the third quarter. FMR LLC now owns 9,465,982 shares of the financial services provider’s stock worth $699,157,000 after buying an additional 288,287 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of CBRE Group stock opened at $87.01 on Friday. The business has a 50 day simple moving average of $92.25 and a two-hundred day simple moving average of $85.20. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $98.65. The stock has a market capitalization of $26.71 billion, a P/E ratio of 27.45 and a beta of 1.42. 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 (NYSE:CBRE) last announced its earnings results on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The business had revenue of $8.95 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. As a group, analysts predict that CBRE Group, Inc. will post 4.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CBRE has been the topic of a number of recent research reports. Raymond James upped their target price on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods increased their price target on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Evercore ISI increased their price target on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded CBRE Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and an average target price of $99.50.

Insider Activity at CBRE Group

In related news, CEO John E. Durburg sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the completion of the sale, the chief executive officer now owns 207,856 shares of the company’s stock, valued at $19,164,323.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO John E. Durburg sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the completion of the sale, the chief executive officer now owns 207,856 shares of the company’s stock, valued at $19,164,323.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Chandra Dhandapani sold 11,925 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.03, for a total value of $1,121,307.75. Following the completion of the sale, the chief executive officer now directly owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,592 shares of company stock valued at $3,675,752. 0.54% of the stock is currently owned by insiders.

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.