CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,381 shares of the financial services provider’s stock after selling 1,034 shares during the quarter. Sawgrass Asset Management LLC’s holdings in CBRE Group were worth $575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its stake in CBRE Group by 5.4% during the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after acquiring an additional 692,697 shares in the last quarter. Geode Capital Management LLC increased its stake in CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock valued at $950,270,000 after purchasing an additional 56,888 shares during the period. FMR LLC increased its stake in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares during the period. Principal Financial Group Inc. increased its stake in CBRE Group by 3.9% in the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock valued at $924,223,000 after purchasing an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in CBRE Group by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock valued at $763,909,000 after purchasing an additional 49,732 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CBRE has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on shares of CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 target price on the stock. Evercore ISI decreased their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Morgan Stanley raised shares of CBRE Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $115.00 to $160.00 in a report on Wednesday, January 15th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.56.

CBRE Group Stock Performance

Shares of CBRE stock opened at $140.73 on Thursday. CBRE Group, Inc. has a one year low of $84.21 and a one year high of $147.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The company has a 50 day moving average price of $135.77 and a 200 day moving average price of $127.15. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of 45.25 and a beta of 1.39.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

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.