Barclays PLC trimmed its stake in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) by 35.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,866 shares of the financial services provider’s stock after selling 199,610 shares during the quarter. Barclays PLC owned approximately 0.12% of CBRE Group worth $26,565,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Harris Associates L P increased its stake in CBRE Group by 11.2% during the fourth quarter. Harris Associates L P now owns 13,661,270 shares of the financial services provider’s stock valued at $1,051,371,000 after purchasing an additional 1,378,650 shares during the last quarter. Geode Capital Management LLC raised its stake in CBRE Group by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 7,040,829 shares of the financial services provider’s stock worth $540,952,000 after acquiring an additional 34,736 shares during the period. Franklin Resources Inc. lifted its holdings in CBRE Group by 28.3% in the fourth quarter. Franklin Resources Inc. now owns 5,439,357 shares of the financial services provider’s stock worth $418,613,000 after acquiring an additional 1,198,800 shares during the last quarter. Bank of America Corp DE boosted its stake in CBRE Group by 1.5% in the fourth quarter. Bank of America Corp DE now owns 4,333,169 shares of the financial services provider’s stock valued at $333,481,000 after acquiring an additional 64,283 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of CBRE Group by 1.3% during the 4th quarter. JPMorgan Chase & Co. now owns 4,289,732 shares of the financial services provider’s stock worth $330,138,000 after purchasing an additional 54,018 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Brandon B. Boze sold 3,400,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $80.80, for a total transaction of $274,720,000.00. Following the completion of the sale, the director now directly owns 5,837,748 shares of the company’s stock, valued at $471,690,038.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Lindsey S. Caplan sold 1,305 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $83.08, for a total transaction of $108,419.40. Following the sale, the chief accounting officer now owns 17,215 shares in the company, valued at $1,430,222.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brandon B. Boze sold 3,400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $80.80, for a total transaction of $274,720,000.00. Following the completion of the transaction, the director now directly owns 5,837,748 shares of the company’s stock, valued at approximately $471,690,038.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,407,921 shares of company stock worth $275,327,133. Corporate insiders own 0.53% of the company’s stock.
CBRE Group Stock Performance
CBRE Group (NYSE:CBRE – Get Free Report) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.30 billion. CBRE Group had a return on equity of 15.42% and a net margin of 2.74%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 earnings per share. Sell-side analysts predict that CBRE Group, Inc. will post 4.55 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently issued reports on CBRE shares. The Goldman Sachs Group reduced their price objective on CBRE Group from $103.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, April 10th. Raymond James lowered their price target on shares of CBRE Group from $102.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Friday, July 28th. StockNews.com initiated coverage on shares of CBRE Group in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Evercore ISI decreased their target price on shares of CBRE Group from $85.00 to $84.00 in a research report on Friday, June 23rd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and a consensus target price of $88.14.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, accounting, and financial services 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.
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