CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 26.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,679 shares of the financial services provider’s stock after selling 2,039 shares during the quarter. Advisors Asset Management Inc.’s holdings in CBRE Group were worth $707,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Lindbrook Capital LLC lifted its position in CBRE Group by 4.7% during the third quarter. Lindbrook Capital LLC now owns 1,750 shares of the financial services provider’s stock worth $218,000 after buying an additional 79 shares in the last quarter. Stephens Inc. AR grew its holdings in CBRE Group by 3.1% in the 3rd quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock valued at $329,000 after buying an additional 80 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in shares of CBRE Group by 2.1% in the 3rd quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 82 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of CBRE Group by 1.2% during the 3rd quarter. Private Advisor Group LLC now owns 7,688 shares of the financial services provider’s stock worth $957,000 after acquiring an additional 90 shares during the period. Finally, Community Bank & Trust Waco Texas boosted its position in shares of CBRE Group by 0.6% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 15,280 shares of the financial services provider’s stock valued at $1,902,000 after acquiring an additional 93 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the sale, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CBRE shares. Citigroup raised their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, Evercore ISI lifted their target price on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

CBRE Group Price Performance

CBRE stock opened at $140.44 on Wednesday. The business’s fifty day moving average price is $127.66 and its 200 day moving average price is $109.52. CBRE Group, Inc. has a 12-month low of $78.18 and a 12-month high of $141.05. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $42.98 billion, a PE ratio of 45.16 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that CBRE Group, Inc. will post 4.94 EPS for the current year.

About CBRE Group

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.