CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Harris Associates L P

Harris Associates L P lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,099,434 shares of the financial services provider’s stock after selling 1,858,122 shares during the quarter. CBRE Group comprises about 2.3% of Harris Associates L P’s holdings, making the stock its 10th largest position. Harris Associates L P owned 4.61% of CBRE Group worth $1,755,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Cetera Investment Advisers lifted its stake in shares of CBRE Group by 500.1% in the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after acquiring an additional 23,290 shares during the period. Algert Global LLC acquired a new stake in shares of CBRE Group in the 3rd quarter valued at $1,829,000. Czech National Bank raised its position in CBRE Group by 9.8% in the 2nd quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock worth $5,121,000 after purchasing an additional 5,125 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of CBRE Group by 6.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 323,311 shares of the financial services provider’s stock worth $28,810,000 after buying an additional 20,717 shares during the period. Finally, Cornerstone Advisors LLC boosted its stake in CBRE Group by 29.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock worth $2,054,000 after purchasing an additional 3,800 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE opened at $138.39 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $129.13 and a 200 day simple moving average of $110.92. The stock has a market capitalization of $42.35 billion, a price-to-earnings ratio of 44.50 and a beta of 1.39. CBRE Group, Inc. has a 12 month low of $80.59 and a 12 month high of $142.00.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the business posted $0.72 EPS. CBRE Group’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts forecast that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

Insider Transactions at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 of the company’s stock, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

CBRE has been the topic of a number of recent analyst reports. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Citigroup boosted their target price on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI boosted their price target on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

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.