Kornitzer Capital Management Inc. KS Reduces Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Kornitzer Capital Management Inc. KS cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,023 shares of the financial services provider’s stock after selling 2,804 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CBRE Group were worth $8,380,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CBRE. Harris Associates L P lifted its holdings in shares of CBRE Group by 4.0% during the third quarter. Harris Associates L P now owns 15,321,916 shares of the financial services provider’s stock worth $1,131,677,000 after purchasing an additional 586,661 shares during the period. FMR LLC lifted its holdings in shares of CBRE Group by 3.1% during the third quarter. FMR LLC now owns 9,465,982 shares of the financial services provider’s stock worth $699,157,000 after purchasing an additional 288,287 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CBRE Group by 2.1% during the first quarter. Geode Capital Management LLC now owns 7,189,800 shares of the financial services provider’s stock worth $522,405,000 after purchasing an additional 148,971 shares during the period. Invesco Ltd. lifted its holdings in shares of CBRE Group by 0.4% during the third quarter. Invesco Ltd. now owns 7,083,778 shares of the financial services provider’s stock worth $523,208,000 after purchasing an additional 28,316 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of CBRE Group by 15.1% during the third quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock worth $503,786,000 after purchasing an additional 894,521 shares during the period. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Evercore ISI increased their price target on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a report on Tuesday, April 2nd. Raymond James raised their target price on CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Jefferies Financial Group began coverage on CBRE Group in a report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price for the company. Finally, StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $99.50.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction on Monday, March 11th. The stock was sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the transaction, the chief financial officer now owns 72,350 shares of the company’s stock, valued at approximately $6,766,895.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the sale, the chief financial officer now owns 72,350 shares in the company, valued at approximately $6,766,895.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Chandra Dhandapani sold 11,925 shares of CBRE Group stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.03, for a total value of $1,121,307.75. Following the sale, the chief executive officer now owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The disclosure for this sale can be found here. Insiders sold 39,592 shares of company stock valued at $3,675,752 in the last 90 days. 0.53% of the stock is currently owned by insiders.

CBRE Group Price Performance

Shares of NYSE:CBRE traded down $0.24 during midday trading on Friday, hitting $84.90. 1,780,807 shares of the stock were exchanged, compared to its average volume of 1,356,562. The stock has a market cap of $26.06 billion, a P/E ratio of 26.78 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.31. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $98.65. The company has a 50 day moving average price of $92.40 and a 200-day moving average price of $84.79.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.17. The business had revenue of $8.95 billion during the quarter, compared to the consensus estimate of $8.44 billion. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 EPS. On average, research analysts forecast that CBRE Group, Inc. will post 4.44 earnings per share 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.