Summit Global Investments Decreases Stake in CBRE Group, Inc. (NYSE:CBRE)

Summit Global Investments lessened its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,579 shares of the financial services provider’s stock after selling 308 shares during the quarter. Summit Global Investments’ holdings in CBRE Group were worth $799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in CBRE Group by 795.4% in the 4th quarter. SG Americas Securities LLC now owns 140,795 shares of the financial services provider’s stock worth $13,107,000 after acquiring an additional 125,071 shares during the last quarter. DNB Asset Management AS increased its holdings in CBRE Group by 37.9% during the 4th quarter. DNB Asset Management AS now owns 128,636 shares of the financial services provider’s stock valued at $11,975,000 after purchasing an additional 35,386 shares during the period. Advisor Resource Council purchased a new position in CBRE Group during the 4th quarter valued at about $1,083,000. Sei Investments Co. raised its position in CBRE Group by 14.1% during 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 lifted its holdings in CBRE Group by 2.8% in the 4th quarter. Nordea Investment Management AB now owns 21,548 shares of the financial services provider’s stock worth $2,014,000 after buying an additional 578 shares during the period. Institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $86.61 on Friday. The company has a 50 day simple moving average of $91.70 and a two-hundred day simple moving average of $85.80. CBRE Group, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $98.65. The company has a market capitalization of $26.58 billion, a price-to-earnings ratio of 26.98 and a beta of 1.44. 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 posted its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The company had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same quarter last year, the company earned $0.92 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts expect that CBRE Group, Inc. will post 4.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Chandra Dhandapani sold 11,925 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the sale, the chief executive officer now owns 127,064 shares in the company, valued at $11,947,827.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction 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 directly owns 127,064 shares of the company’s stock, valued at $11,947,827.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the sale, the chief financial officer now owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The disclosure for this sale can be found here. Insiders have sold a total of 39,592 shares of company stock worth $3,675,752 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

CBRE has been the topic of several research analyst reports. StockNews.com cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Raymond James upped their price objective on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 25th. TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. 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 price objective for the company. Finally, Keefe, Bruyette & Woods upped their target price on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $99.50.

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.