Avanza Fonder AB Reduces Holdings in CBRE Group, Inc. (NYSE:CBRE)

Avanza Fonder AB lessened its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,908 shares of the financial services provider’s stock after selling 96 shares during the period. Avanza Fonder AB’s holdings in CBRE Group were worth $4,120,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CBRE. Norges Bank purchased a new position in shares of CBRE Group during the 4th quarter valued at $514,609,000. Artisan Partners Limited Partnership raised its stake in shares of CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after purchasing an additional 3,011,566 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in shares of CBRE Group during the 4th quarter valued at $190,695,000. GAMMA Investing LLC raised its stake in shares of CBRE Group by 20,889.0% during the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider’s stock valued at $168,896,000 after purchasing an additional 1,285,300 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of CBRE Group by 11,750.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,232,962 shares of the financial services provider’s stock valued at $161,876,000 after purchasing an additional 1,222,558 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CBRE shares. Morgan Stanley decreased their price objective on CBRE Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. UBS Group decreased their price objective on CBRE Group from $146.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Wall Street Zen upgraded CBRE Group from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CBRE Group has an average rating of “Moderate Buy” and a consensus target price of $149.22.

Insider Transactions at CBRE Group

In other news, insider Chad J. Doellinger sold 494 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $126.05, for a total value of $62,268.70. Following the completion of the transaction, the insider now directly owns 27,945 shares in the company, valued at approximately $3,522,467.25. This represents a 1.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Emma E. Giamartino sold 1,972 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer now owns 105,371 shares of the company’s stock, valued at $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,599 shares of company stock worth $584,980. 0.42% of the stock is currently owned by corporate insiders.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $132.93 on Wednesday. The firm has a market capitalization of $39.63 billion, a P/E ratio of 42.33 and a beta of 1.29. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $123.12 and its two-hundred day simple moving average is $131.20. CBRE Group, Inc. has a twelve month low of $85.74 and a twelve month high of $147.75.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The business had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the company earned $0.78 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

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.