CBRE Group, Inc. (NYSE:CBRE) Stake Reduced by Westpac Banking Corp

Westpac Banking Corp decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,918 shares of the financial services provider’s stock after selling 3,690 shares during the period. Westpac Banking Corp’s holdings in CBRE Group were worth $4,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank boosted its position in shares of CBRE Group by 7.9% in the 4th quarter. Huntington National Bank now owns 7,165 shares of the financial services provider’s stock valued at $941,000 after purchasing an additional 526 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of CBRE Group by 11,750.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider’s stock worth $161,876,000 after buying an additional 1,222,558 shares during the period. Meeder Advisory Services Inc. increased its position in shares of CBRE Group by 20.2% in the fourth quarter. Meeder Advisory Services Inc. now owns 5,325 shares of the financial services provider’s stock worth $699,000 after acquiring an additional 895 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of CBRE Group by 126.5% during the fourth quarter. Groupama Asset Managment now owns 18,170 shares of the financial services provider’s stock valued at $2,367,000 after acquiring an additional 10,147 shares during the period. Finally, Trexquant Investment LP lifted its position in shares of CBRE Group by 466.2% in the 4th quarter. Trexquant Investment LP now owns 203,975 shares of the financial services provider’s stock valued at $26,780,000 after acquiring an additional 167,948 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Price Performance

NYSE CBRE opened at $133.57 on Thursday. The firm has a market cap of $40.08 billion, a P/E ratio of 42.54 and a beta of 1.42. The stock’s 50-day moving average is $137.10 and its two-hundred day moving average is $132.55. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. 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 (NYSE:CBRE) last posted its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CBRE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $163.00 in a research note on Monday, December 16th. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Evercore ISI decreased their price target on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Morgan Stanley upped their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.89.

Insider Activity at CBRE Group

In other CBRE Group news, insider Chad J. Doellinger sold 797 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total value of $100,669.07. Following the sale, the insider now directly owns 28,735 shares in the company, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $251,380.00. Following the transaction, the chief financial officer now directly owns 107,343 shares of the company’s stock, valued at $13,491,941.67. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 0.54% 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.