Connor Clark & Lunn Investment Management Ltd. Sells 465,562 Shares of CBRE Group, Inc. (NYSE:CBRE)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in CBRE Group, Inc. (NYSE:CBRE) by 99.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,880 shares of the financial services provider’s stock after selling 465,562 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CBRE Group were worth $607,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Evercore ISI boosted 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. Citigroup increased their target price on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods upped their price target 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. Five research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

CBRE Group Price Performance

CBRE Group stock opened at $140.71 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $43.06 billion, a price-to-earnings ratio of 45.24 and a beta of 1.39. The firm has a 50-day moving average of $128.43 and a two-hundred day moving average of $109.95. CBRE Group, Inc. has a 1 year low of $78.18 and a 1 year high of $142.00.

CBRE Group (NYSE:CBRE) last announced its quarterly 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. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, research analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insider Transactions at CBRE Group

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