Clark Capital Management Group Inc. Lowers Stake in CBRE Group, Inc. (NYSE:CBRE)

Clark Capital Management Group Inc. cut its stake in CBRE Group, Inc. (NYSE:CBRE) by 4.3% in the 4th quarter, Holdings Channel reports. The fund owned 4,974 shares of the financial services provider’s stock after selling 222 shares during the quarter. Clark Capital Management Group Inc.’s holdings in CBRE Group were worth $653,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC increased its position in shares of CBRE Group by 1.4% during the 4th quarter. Meridian Wealth Management LLC now owns 5,192 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 71 shares during the last quarter. Gilbert & Cook Inc. raised its stake in shares of CBRE Group by 1.4% during the fourth quarter. Gilbert & Cook Inc. now owns 5,448 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 75 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of CBRE Group by 2.0% in the 4th quarter. Signaturefd LLC now owns 5,074 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 99 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of CBRE Group by 9.1% in the 4th quarter. IFP Advisors Inc now owns 1,203 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 100 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in shares of CBRE Group by 2.6% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,098 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

Analysts Set New Price Targets

CBRE has been the subject of several analyst reports. UBS Group cut their price target on shares of CBRE Group from $146.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods increased their target price on CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a report on Wednesday, April 30th. Raymond James cut CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Morgan Stanley dropped their price objective on CBRE Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and an average target price of $149.22.

CBRE Group Stock Performance

Shares of CBRE stock opened at $126.67 on Friday. The firm has a market capitalization of $37.76 billion, a price-to-earnings ratio of 40.34 and a beta of 1.30. The stock has a fifty day moving average of $124.49 and a 200 day moving average of $132.03. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The firm had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the sale, the insider now directly owns 28,735 shares in the company, valued at $3,629,517.85. The trade was a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the completion of the transaction, the chief financial officer now owns 107,343 shares of the company’s stock, valued at approximately $13,491,941.67. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,424 shares of company stock worth $431,064. Company insiders own 0.42% 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.