Kornitzer Capital Management Inc. KS Trims Position in CBRE Group, Inc. (NYSE:CBRE)

Kornitzer Capital Management Inc. KS cut its position in CBRE Group, Inc. (NYSE:CBRE) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,023 shares of the financial services provider’s stock after selling 2,804 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CBRE Group were worth $8,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC grew its stake in CBRE Group by 795.4% during the fourth quarter. SG Americas Securities LLC now owns 140,795 shares of the financial services provider’s stock valued at $13,107,000 after acquiring an additional 125,071 shares in the last quarter. DNB Asset Management AS grew its stake in CBRE Group by 37.9% during the fourth quarter. DNB Asset Management AS now owns 128,636 shares of the financial services provider’s stock valued at $11,975,000 after acquiring an additional 35,386 shares in the last quarter. Advisor Resource Council purchased a new position in CBRE Group during the fourth quarter valued at $1,083,000. Sei Investments Co. lifted its position in CBRE Group by 14.1% during the third quarter. Sei Investments Co. now owns 1,073,768 shares of the financial services provider’s stock valued at $79,308,000 after purchasing an additional 132,748 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in CBRE Group by 2.8% during the fourth quarter. Nordea Investment Management AB now owns 21,548 shares of the financial services provider’s stock valued at $2,014,000 after purchasing an additional 578 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Trading Down 0.3 %

Shares of CBRE Group stock traded down $0.24 during trading on Friday, hitting $84.90. The stock had a trading volume of 1,780,807 shares, compared to its average volume of 1,356,562. The firm’s fifty day simple moving average is $92.40 and its 200-day simple moving average is $84.79. The stock has a market cap of $26.06 billion, a PE ratio of 26.78 and a beta of 1.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.17 and a quick ratio of 1.17. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $98.65.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The company had revenue of $8.95 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the business posted $1.33 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side analysts expect that CBRE Group, Inc. will post 4.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on CBRE shares. Evercore ISI increased their price objective on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Raymond James raised their target price on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 25th. Finally, TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CBRE Group has a consensus rating of “Hold” and an average price target of $99.50.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the sale, 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 available at this link. In other CBRE Group news, CEO John E. Durburg sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the transaction, the chief executive officer now owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Emma E. Giamartino sold 2,667 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares in the company, valued at approximately $6,766,895.50. The disclosure for this sale can be found here. Insiders sold 39,592 shares of company stock worth $3,675,752 in the last 90 days. 0.53% of the stock is owned by corporate insiders.

CBRE Group 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.