New York State Common Retirement Fund Sells 14,324 Shares of CBRE Group, Inc. (NYSE:CBRE)

New York State Common Retirement Fund trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,089,118 shares of the financial services provider’s stock after selling 14,324 shares during the quarter. New York State Common Retirement Fund’s holdings in CBRE Group were worth $101,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBRE. Principal Financial Group Inc. lifted its holdings in shares of CBRE Group by 15.1% during the 3rd quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock worth $503,786,000 after acquiring an additional 894,521 shares during the period. Eminence Capital LP acquired a new stake in shares of CBRE Group during the 3rd quarter worth about $45,494,000. Harris Associates L P increased its position in shares of CBRE Group by 4.0% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of CBRE Group by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,824,186 shares of the financial services provider’s stock worth $430,175,000 after purchasing an additional 294,954 shares in the last quarter. Finally, FMR LLC increased its position in shares of CBRE Group by 3.1% during the 3rd 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 in the last quarter. 98.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research report on Wednesday, April 10th. They set a “hold” rating and a $107.00 target price for the company. TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Raymond James increased their target price on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $99.50.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the transaction, the chief financial officer now owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the sale, the chief financial officer now directly owns 72,350 shares in the company, valued at $6,766,895.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John E. Durburg sold 25,000 shares of CBRE Group stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the completion of the sale, the chief executive officer now owns 207,856 shares in the company, valued at $19,164,323.20. The disclosure for this sale can be found here. Insiders have sold 39,592 shares of company stock valued at $3,675,752 in the last 90 days. 0.54% of the stock is owned by insiders.

CBRE Group Price Performance

CBRE traded up $1.45 during midday trading on Tuesday, hitting $87.49. The company had a trading volume of 412,013 shares, compared to its average volume of 1,632,900. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $98.65. The firm’s 50-day simple moving average is $92.36 and its 200-day simple moving average is $85.08. 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 company has a market capitalization of $26.86 billion, a PE ratio of 27.14 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The business had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm earned $1.33 EPS. CBRE Group’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts predict that CBRE Group, Inc. will post 4.44 EPS for the current fiscal 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.