CBRE Group, Inc. (NYSE:CBRE) Holdings Cut by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 426,417 shares of the financial services provider’s stock after selling 54,923 shares during the period. Jennison Associates LLC owned about 0.14% of CBRE Group worth $39,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its stake in CBRE Group by 795.4% in the fourth quarter. SG Americas Securities LLC now owns 140,795 shares of the financial services provider’s stock valued at $13,107,000 after purchasing an additional 125,071 shares in the last quarter. DNB Asset Management AS grew its position in CBRE Group by 37.9% in the fourth quarter. DNB Asset Management AS now owns 128,636 shares of the financial services provider’s stock worth $11,975,000 after acquiring an additional 35,386 shares in the last quarter. Advisor Resource Council bought a new position in shares of CBRE Group during the 4th quarter valued at $1,083,000. Sei Investments Co. lifted its stake in shares of CBRE Group by 14.1% in the 3rd quarter. Sei Investments Co. now owns 1,073,768 shares of the financial services provider’s stock valued at $79,308,000 after purchasing an additional 132,748 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in CBRE Group by 2.8% in the fourth quarter. Nordea Investment Management AB now owns 21,548 shares of the financial services provider’s stock worth $2,014,000 after purchasing an additional 578 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Up 1.2 %

Shares of CBRE opened at $87.11 on Wednesday. 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 $26.74 billion, a P/E ratio of 27.48 and a beta of 1.42. The company has a 50-day simple moving average of $92.40 and a 200-day simple moving average of $85.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17.

CBRE Group (NYSE:CBRE) last announced 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. The company had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.44 billion. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. CBRE Group’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 EPS. On average, equities research analysts expect that CBRE Group, Inc. will post 4.44 earnings per share for the current year.

Analysts Set New Price Targets

CBRE has been the topic of a number of analyst reports. StockNews.com raised CBRE Group from a “hold” rating to a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Jefferies Financial Group assumed coverage on shares of CBRE Group in a report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price on the stock. Raymond James upped their price target on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Finally, Evercore ISI lifted their price objective on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and an average target price of $99.50.

Insider Activity

In related news, CEO Chandra Dhandapani sold 11,925 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $94.03, for a total value of $1,121,307.75. Following the completion of the transaction, the chief executive officer now owns 127,064 shares of the company’s stock, valued at $11,947,827.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction 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 owns 72,350 shares in the company, valued at approximately $6,766,895.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 127,064 shares in the company, valued at approximately $11,947,827.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,592 shares of company stock worth $3,675,752. Corporate insiders own 0.54% of the company’s stock.

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.