Massachusetts Financial Services Co. MA Sells 48,783 Shares of CBRE Group, Inc. (NYSE:CBRE)

Massachusetts Financial Services Co. MA lessened its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 82.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,404 shares of the financial services provider’s stock after selling 48,783 shares during the period. Massachusetts Financial Services Co. MA’s holdings in CBRE Group were worth $1,295,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. American National Bank & Trust acquired a new position in CBRE Group in the third quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of CBRE Group by 190.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 215 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in CBRE Group during the 3rd quarter worth approximately $32,000. Wolff Wiese Magana LLC increased its holdings in CBRE Group by 2,830.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 283 shares in the last quarter. Finally, Asset Dedication LLC bought a new position in CBRE Group in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of CBRE stock opened at $140.76 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a 12-month low of $78.18 and a 12-month high of $142.00. The firm has a fifty day moving average of $128.07 and a 200-day moving average of $109.74. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of 45.26 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction that occurred on 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 approximately $9,214,026.36. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction that occurred on 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 trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

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.