Wells Fargo & Company MN Sells 24,239 Shares of CBRE Group, Inc. (NYSE:CBRE)

Wells Fargo & Company MN decreased its position in CBRE Group, Inc. (NYSE:CBRE) by 2.9% during the 4th quarter, Holdings Channel reports. The firm owned 818,502 shares of the financial services provider’s stock after selling 24,239 shares during the quarter. Wells Fargo & Company MN’s holdings in CBRE Group were worth $107,461,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Systematic Alpha Investments LLC increased its holdings in CBRE Group by 58.8% during the 4th quarter. Systematic Alpha Investments LLC now owns 13,223 shares of the financial services provider’s stock valued at $1,736,000 after purchasing an additional 4,895 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of CBRE Group in the fourth quarter valued at $203,000. Pitcairn Co. raised its holdings in shares of CBRE Group by 112.1% in the fourth quarter. Pitcairn Co. now owns 5,405 shares of the financial services provider’s stock valued at $710,000 after buying an additional 2,857 shares during the last quarter. Huntington National Bank raised its holdings in shares of CBRE Group by 7.9% in the fourth quarter. Huntington National Bank now owns 7,165 shares of the financial services provider’s stock valued at $941,000 after buying an additional 526 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in CBRE Group by 11,750.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the transaction, the insider now directly owns 28,735 shares in the company, valued at approximately $3,629,517.85. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

CBRE Group Price Performance

CBRE Group stock opened at $117.01 on Tuesday. The firm has a market capitalization of $35.11 billion, a P/E ratio of 37.26 and a beta of 1.26. The business has a 50-day moving average of $135.76 and a 200-day moving average of $132.62. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 1 year low of $84.24 and a 1 year high of $147.75.

CBRE Group (NYSE:CBRE) last issued 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%. On average, equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Morgan Stanley boosted their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $133.00 to $152.00 in a research report on Thursday, January 2nd. Keefe, Bruyette & Woods boosted their target price on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research report on Friday, February 14th. Finally, Evercore ISI decreased their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.89.

About CBRE Group

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.