Sendero Wealth Management LLC Sells 22,358 Shares of CBRE Group, Inc. (NYSE:CBRE)

Sendero Wealth Management LLC decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 28.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 55,458 shares of the financial services provider’s stock after selling 22,358 shares during the quarter. CBRE Group makes up approximately 1.1% of Sendero Wealth Management LLC’s portfolio, making the stock its 23rd biggest position. Sendero Wealth Management LLC’s holdings in CBRE Group were worth $7,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CBRE. Algert Global LLC bought a new position in CBRE Group during the 3rd quarter worth about $1,829,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of CBRE Group in the 4th quarter worth approximately $1,518,000. Fulton Bank N.A. boosted its stake in shares of CBRE Group by 342.0% during the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after purchasing an additional 19,227 shares in the last quarter. Prestige Wealth Management Group LLC increased its holdings in CBRE Group by 17,304.5% during the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock valued at $477,000 after buying an additional 3,807 shares during the period. Finally, Cornerstone Advisors LLC increased its holdings in CBRE Group by 29.9% during the third quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock valued at $2,054,000 after buying an additional 3,800 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $120.00 to $163.00 in a research report on Monday, December 16th. The Goldman Sachs Group assumed coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Morgan Stanley upgraded shares of CBRE Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $160.00 in a report on Wednesday. Finally, Citigroup boosted their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.44.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares in the company, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Trading Up 5.3 %

Shares of CBRE Group stock opened at $131.55 on Thursday. The firm’s 50 day simple moving average is $133.32 and its two-hundred day simple moving average is $120.55. The firm has a market capitalization of $40.26 billion, a price-to-earnings ratio of 42.30 and a beta of 1.39. CBRE Group, Inc. has a 12-month low of $82.75 and a 12-month high of $142.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

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

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.