Summit Global Investments Reduces Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Summit Global Investments reduced its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 45.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,453 shares of the financial services provider’s stock after selling 9,712 shares during the quarter. Summit Global Investments’ holdings in CBRE Group were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CBRE. Principal Financial Group Inc. lifted its stake in shares of 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 valued at $924,223,000 after buying an additional 277,922 shares in the last quarter. Empowered Funds LLC lifted its stake in CBRE Group by 10.3% in the 3rd quarter. Empowered Funds LLC now owns 4,774 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 446 shares in the last quarter. Pathstone Holdings LLC lifted its stake in CBRE Group by 6.1% in the 3rd quarter. Pathstone Holdings LLC now owns 40,256 shares of the financial services provider’s stock worth $5,011,000 after purchasing an additional 2,329 shares in the last quarter. King Luther Capital Management Corp purchased a new stake in CBRE Group in the 3rd quarter worth approximately $225,000. Finally, Integrated Investment Consultants LLC purchased a new stake in CBRE Group in the 3rd quarter worth approximately $357,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CBRE shares. StockNews.com upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $163.00 in a research note on Monday, December 16th. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Finally, The Goldman Sachs Group started coverage on shares of CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and an average price target of $149.89.

Insiders Place Their Bets

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 owns 28,735 shares of the company’s stock, valued at $3,629,517.85. This trade represents a 2.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the sale, the chief financial officer now directly owns 107,343 shares in the company, valued at approximately $13,491,941.67. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

CBRE stock opened at $129.76 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75. The firm’s fifty day moving average is $137.34 and its 200 day moving average is $131.64. The firm has a market cap of $38.93 billion, a P/E ratio of 41.32 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Research analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

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.