CBRE Group, Inc. (NYSE:CBRE) Shares Sold by abrdn plc

abrdn plc lessened its holdings in CBRE Group, Inc. (NYSE:CBRE) by 50.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 654,069 shares of the financial services provider’s stock after selling 658,598 shares during the quarter. abrdn plc’s holdings in CBRE Group were worth $85,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its position in CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after purchasing an additional 692,697 shares during the period. Geode Capital Management LLC grew its stake in shares of CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock valued at $950,270,000 after buying an additional 56,888 shares in the last quarter. FMR LLC raised its holdings in shares of CBRE Group by 85.6% during the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after buying an additional 3,498,244 shares during the period. Principal Financial Group Inc. lifted its position in CBRE Group by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after acquiring an additional 277,922 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in CBRE Group by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after acquiring an additional 49,732 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Trading Up 1.0 %

Shares of NYSE CBRE opened at $143.93 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average price is $135.23 and its two-hundred day moving average price is $125.37. CBRE Group, Inc. has a 52-week low of $82.75 and a 52-week high of $147.10. The stock has a market capitalization of $44.05 billion, a P/E ratio of 46.28 and a beta of 1.39.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CBRE shares. Evercore ISI reduced their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $155.00 to $152.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $163.00 in a research report on Monday, December 16th. The Goldman Sachs Group assumed coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Finally, Citigroup increased their price target on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and a consensus price target of $148.56.

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.