CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its stake in CBRE Group, Inc. (NYSE:CBRE) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 740,565 shares of the financial services provider’s stock after selling 20,624 shares during the period. Lord Abbett & CO. LLC’s holdings in CBRE Group were worth $92,186,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Synovus Financial Corp increased its holdings in shares of CBRE Group by 2.9% in the 3rd quarter. Synovus Financial Corp now owns 11,544 shares of the financial services provider’s stock valued at $1,437,000 after acquiring an additional 330 shares during the last quarter. Tidal Investments LLC increased its stake in CBRE Group by 97.4% during the third quarter. Tidal Investments LLC now owns 10,290 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 5,077 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CBRE Group during the third quarter worth $2,330,000. World Investment Advisors LLC bought a new position in shares of CBRE Group in the 3rd quarter worth about $285,000. Finally, TCW Group Inc. boosted its holdings in shares of CBRE Group by 111.7% in the 3rd quarter. TCW Group Inc. now owns 85,188 shares of the financial services provider’s stock valued at $10,604,000 after buying an additional 44,957 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Down 1.8 %

CBRE opened at $137.16 on Friday. The stock’s fifty day moving average is $131.69 and its 200-day moving average is $113.63. CBRE Group, Inc. has a one year low of $82.75 and a one year high of $142.00. The company has a market capitalization of $41.97 billion, a PE ratio of 44.10 and a beta of 1.39. 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 (NYSE:CBRE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts predict that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CBRE. Citigroup raised their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods upped their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price target for the company. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Evercore ISI upped their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.63.

Insider Activity

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

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.