Great Lakes Advisors LLC Decreases Stake in CBRE Group, Inc. (NYSE:CBRE)

Great Lakes Advisors LLC lowered its position in CBRE Group, Inc. (NYSE:CBRE) by 22.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,549 shares of the financial services provider’s stock after selling 755 shares during the period. Great Lakes Advisors LLC’s holdings in CBRE Group were worth $237,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CBRE. Cary Street Partners Investment Advisory LLC raised its holdings in shares of CBRE Group by 190.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 497 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 326 shares during the period. Headinvest LLC purchased a new position in shares of CBRE Group during the 3rd quarter worth $44,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CBRE Group during the 4th quarter worth about $45,000. Bruce G. Allen Investments LLC acquired a new stake in shares of CBRE Group during the 4th quarter worth about $48,000. Finally, Planned Solutions Inc. acquired a new stake in shares of CBRE Group during the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

CBRE has been the subject of a number of recent analyst reports. Raymond James raised their price objective on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. TheStreet raised CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods raised their price objective 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. Jefferies Financial Group initiated coverage on CBRE Group in a research report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective for the company. Finally, StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CBRE Group currently has an average rating of “Hold” and a consensus price target of $99.50.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the transaction, the chief financial officer now owns 72,350 shares in the company, valued at approximately $6,766,895.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

NYSE CBRE opened at $87.65 on Friday. The company has a market cap of $26.89 billion, a P/E ratio of 27.31 and a beta of 1.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a 50-day moving average of $90.74 and a two-hundred day moving average of $87.77. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $98.65.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.09. The business had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $7.94 billion. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. As a group, analysts anticipate that CBRE Group, Inc. will post 4.49 EPS for the current year.

CBRE Group Company 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.