Summit Global Investments Sells 9,712 Shares of CBRE Group, Inc. (NYSE:CBRE)

Summit Global Investments decreased its holdings in CBRE Group, Inc. (NYSE:CBRE) by 45.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,453 shares of the financial services provider’s stock after selling 9,712 shares during the quarter. Summit Global Investments’ holdings in CBRE Group were worth $1,504,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CBRE. SBI Securities Co. Ltd. acquired a new position in CBRE Group in the fourth quarter valued at $25,000. Canton Hathaway LLC acquired a new position in CBRE Group in the third quarter valued at $27,000. Denver PWM LLC acquired a new position in CBRE Group in the fourth quarter valued at $29,000. Larson Financial Group LLC lifted its holdings in CBRE Group by 610.9% in the fourth quarter. Larson Financial Group LLC now owns 327 shares of the financial services provider’s stock valued at $43,000 after buying an additional 281 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its holdings in CBRE Group by 190.4% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock valued at $48,000 after buying an additional 238 shares during the period. Institutional investors own 98.41% of the company’s stock.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the completion of the sale, the chief financial officer now directly owns 107,343 shares of the company’s stock, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chad J. Doellinger sold 797 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the transaction, the insider now directly owns 28,735 shares of the company’s stock, valued at $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on CBRE. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, February 14th. Evercore ISI dropped their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. StockNews.com upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Wednesday. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $155.00 to $152.00 in a report on Friday, January 24th. Finally, The Goldman Sachs Group began coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Trading Down 0.3 %

CBRE opened at $129.76 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. The firm has a market capitalization of $38.93 billion, a PE ratio of 41.32 and a beta of 1.42. The company’s 50-day moving average is $137.34 and its 200 day moving average is $131.64.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. As a group, research analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal 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.