CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in CBRE Group, Inc. (NYSE:CBRE) by 14.6% during the third quarter, HoldingsChannel.com reports. The fund owned 379,727 shares of the financial services provider’s stock after selling 65,135 shares during the period. Jennison Associates LLC’s holdings in CBRE Group were worth $47,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CBRE. O Shaughnessy Asset Management LLC raised its holdings in CBRE Group by 14.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 21,132 shares of the financial services provider’s stock worth $2,055,000 after buying an additional 2,673 shares during the period. Pitcairn Co. lifted its position in shares of CBRE Group by 14.7% in the 1st quarter. Pitcairn Co. now owns 3,465 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 443 shares in the last quarter. Crewe Advisors LLC acquired a new position in CBRE Group in the 1st quarter worth approximately $30,000. Capital World Investors raised its stake in CBRE Group by 194.7% during the 1st quarter. Capital World Investors now owns 156,366 shares of the financial services provider’s stock valued at $15,205,000 after purchasing an additional 103,300 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of CBRE Group in the first quarter valued at $4,024,000. 98.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Evercore ISI lifted their price target on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley initiated coverage on CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Raymond James increased their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods increased their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.83.

Insider Buying and Selling at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $24,894,168.98. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. This trade represents a 2.52 % 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 Trading Down 0.1 %

Shares of NYSE CBRE opened at $131.60 on Friday. The stock has a market cap of $40.27 billion, a price-to-earnings ratio of 42.31 and a beta of 1.39. The business has a 50 day simple moving average of $126.49 and a 200 day simple moving average of $108.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group, Inc. has a 52 week low of $77.97 and a 52 week high of $137.93.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $0.72 EPS. CBRE Group’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that CBRE Group, Inc. will post 4.94 earnings per share for the current fiscal year.

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.