Signet Financial Management LLC Sells 52,173 Shares of CBRE Group, Inc. (NYSE:CBRE)

Signet Financial Management LLC lowered its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 95.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,438 shares of the financial services provider’s stock after selling 52,173 shares during the quarter. Signet Financial Management LLC’s holdings in CBRE Group were worth $227,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of CBRE Group during the fourth quarter worth $255,749,000. Principal Financial Group Inc. grew its stake in CBRE Group by 15.1% in the third quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock valued at $503,786,000 after acquiring an additional 894,521 shares during the period. Maverick Capital Ltd. acquired a new position in CBRE Group in the fourth quarter valued at about $65,416,000. Balyasny Asset Management L.P. grew its stake in CBRE Group by 26,570.0% in the first quarter. Balyasny Asset Management L.P. now owns 800,900 shares of the financial services provider’s stock valued at $58,314,000 after acquiring an additional 797,897 shares during the period. Finally, Renaissance Technologies LLC grew its stake in CBRE Group by 150.3% in the first quarter. Renaissance Technologies LLC now owns 1,320,100 shares of the financial services provider’s stock valued at $120,816,000 after acquiring an additional 792,717 shares during the period. Institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. TheStreet raised CBRE Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 25th. Jefferies Financial Group started coverage on CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price for the company. StockNews.com cut CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Finally, Evercore ISI upped their price objective on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $99.50.

CBRE Group Stock Performance

CBRE opened at $85.13 on Thursday. CBRE Group, Inc. has a 52-week low of $64.63 and a 52-week high of $98.65. The firm has a market capitalization of $26.13 billion, a PE ratio of 26.85 and a beta of 1.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50-day simple moving average is $92.45 and its 200 day simple moving average is $84.70.

CBRE Group (NYSE:CBRE) last released its 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. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The business had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. CBRE Group’s revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts expect that CBRE Group, Inc. will post 4.44 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, CEO John E. Durburg sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the transaction, the chief executive officer now owns 207,856 shares in the company, valued at $19,164,323.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Chandra Dhandapani sold 11,925 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the transaction, the chief executive officer now owns 127,064 shares in the company, valued at $11,947,827.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John E. Durburg sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the transaction, the chief executive officer now owns 207,856 shares in the company, valued at approximately $19,164,323.20. The disclosure for this sale can be found here. Insiders have sold 39,592 shares of company stock worth $3,675,752 over the last 90 days. Company insiders own 0.53% of the company’s stock.

CBRE Group Company 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.