Thrivent Financial for Lutherans Has $82.80 Million Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Thrivent Financial for Lutherans lowered its stake in CBRE Group, Inc. (NYSE:CBRE) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 630,604 shares of the financial services provider’s stock after selling 34,415 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.21% of CBRE Group worth $82,800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CBRE. FMR LLC boosted its holdings in shares of CBRE Group by 85.6% during the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after acquiring an additional 3,498,244 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in shares of CBRE Group during the fourth quarter worth approximately $190,695,000. Manning & Napier Advisors LLC bought a new stake in shares of CBRE Group during the fourth quarter worth approximately $175,978,000. Los Angeles Capital Management LLC boosted its holdings in shares of CBRE Group by 1,499.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock worth $139,162,000 after acquiring an additional 993,687 shares during the period. Finally, State Street Corp boosted its holdings in shares of CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after acquiring an additional 692,697 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CBRE shares. The Goldman Sachs Group started coverage on CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective for the company. Morgan Stanley boosted their price objective on CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research note on Friday, February 14th. Evercore ISI cut their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

CBRE Group Stock Down 1.9 %

Shares of CBRE opened at $126.28 on Wednesday. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75. The company has a market cap of $37.89 billion, a P/E ratio of 40.22 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $137.24 and a two-hundred day simple moving average of $131.46.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data 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 forecast that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, insider Chad J. Doellinger sold 797 shares of the company’s stock in a transaction 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. This represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.