CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Westpac Banking Corp

Westpac Banking Corp reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 10.2% during the 1st quarter, HoldingsChannel reports. The firm owned 33,137 shares of the financial services provider’s stock after selling 3,781 shares during the quarter. Westpac Banking Corp’s holdings in CBRE Group were worth $4,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider’s stock worth $1,042,317,000 after purchasing an additional 368,214 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of CBRE Group by 6.6% during the 1st quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider’s stock worth $837,938,000 after purchasing an additional 397,818 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of CBRE Group by 217.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider’s stock worth $511,781,000 after purchasing an additional 2,680,337 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of CBRE Group by 12.6% during the 4th quarter. Northern Trust Corp now owns 3,789,513 shares of the financial services provider’s stock worth $497,525,000 after purchasing an additional 424,663 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CBRE Group by 24.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider’s stock worth $487,127,000 after purchasing an additional 738,704 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 1,972 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the sale, the chief financial officer owned 105,371 shares of the company’s stock, valued at approximately $13,603,396.10. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lindsey S. Caplan sold 1,494 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total value of $232,122.78. Following the sale, the chief accounting officer directly owned 26,717 shares in the company, valued at $4,151,020.29. This represents a 5.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,898 shares of company stock worth $1,122,558 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

CBRE Group Stock Down 1.3%

Shares of NYSE CBRE opened at $153.43 on Tuesday. The firm has a market cap of $45.65 billion, a price-to-earnings ratio of 42.98 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. CBRE Group, Inc. has a 52-week low of $107.54 and a 52-week high of $161.03. The business’s 50 day moving average is $141.27 and its two-hundred day moving average is $133.89.

CBRE Group (NYSE:CBRE) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. Research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

CBRE has been the topic of several recent research reports. UBS Group boosted their target price on CBRE Group from $130.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Raymond James Financial lifted their price target on shares of CBRE Group from $163.00 to $166.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Evercore ISI lifted their price target on shares of CBRE Group from $147.00 to $164.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $131.00 to $147.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.00.

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.