Morgan Stanley Sells 39,428 Shares of CBRE Group Inc (NYSE:CBRE)

Morgan Stanley reduced its holdings in CBRE Group Inc (NYSE:CBRE) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 547,052 shares of the financial services provider’s stock after selling 39,428 shares during the quarter. Morgan Stanley owned 0.16% of CBRE Group worth $20,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in CBRE Group by 10.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,342 shares of the financial services provider’s stock valued at $197,000 after buying an additional 328 shares in the last quarter. Foundry Partners LLC acquired a new stake in shares of CBRE Group during the fourth quarter worth $230,000. Assetmark Inc. raised its holdings in shares of CBRE Group by 20.7% during the fourth quarter. Assetmark Inc. now owns 2,338 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 401 shares during the period. Envestnet Asset Management Inc. lifted its position in CBRE Group by 12.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 407,236 shares of the financial services provider’s stock valued at $24,959,000 after acquiring an additional 45,297 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in CBRE Group by 0.8% in the 4th quarter. Eaton Vance Management now owns 174,115 shares of the financial services provider’s stock worth $10,672,000 after purchasing an additional 1,320 shares during the period. 92.99% of the stock is currently owned by institutional investors.

Several analysts have issued reports on CBRE shares. Cfra downgraded CBRE Group from a “hold” rating to a “sell” rating and dropped their price target for the company from $57.00 to $35.00 in a research note on Friday, May 8th. TheStreet lowered CBRE Group from a “b-” rating to a “c+” rating in a research report on Friday, April 3rd. Zacks Investment Research cut CBRE Group from a “hold” rating to a “sell” rating and set a $46.00 target price on the stock. in a research note on Tuesday, April 14th. UBS Group decreased their price target on shares of CBRE Group from $59.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. downgraded shares of CBRE Group from an “overweight” rating to a “neutral” rating in a report on Sunday, April 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. CBRE Group has a consensus rating of “Hold” and an average target price of $51.38.

In other news, insider Michael J. Lafitte sold 39,196 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $51.73, for a total transaction of $2,027,609.08. Following the completion of the sale, the insider now owns 325,957 shares in the company, valued at $16,861,755.61. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Shira Goodman bought 2,600 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $38.73 per share, for a total transaction of $100,698.00. Following the transaction, the director now directly owns 4,228 shares of the company’s stock, valued at approximately $163,750.44. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 162,212 shares of company stock worth $7,109,705. 0.80% of the stock is owned by company insiders.

Shares of CBRE stock opened at $44.24 on Wednesday. The stock has a market cap of $14.83 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.58 and a beta of 1.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.20. The company has a fifty day moving average price of $44.42 and a two-hundred day moving average price of $50.57. CBRE Group Inc has a one year low of $29.17 and a one year high of $64.75.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. CBRE Group had a return on equity of 21.37% and a net margin of 5.23%. The firm had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities research analysts anticipate that CBRE Group Inc will post 2.54 EPS for the current fiscal year.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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