CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lessened its stake in CBRE Group, Inc. (NYSE:CBRE) by 29.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 495,132 shares of the financial services provider’s stock after selling 206,258 shares during the quarter. Lord Abbett & CO. LLC’s holdings in CBRE Group were worth $64,753,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sowell Financial Services LLC purchased a new position in CBRE Group during the first quarter worth approximately $256,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of CBRE Group by 21.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider’s stock worth $968,000 after buying an additional 1,310 shares during the period. USA Financial Formulas purchased a new position in shares of CBRE Group during the 1st quarter valued at approximately $1,101,000. Golden State Wealth Management LLC grew its stake in CBRE Group by 687.1% in the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 213 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in CBRE Group by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider’s stock worth $1,042,317,000 after acquiring an additional 368,214 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the transaction, the chief financial officer owned 105,371 shares of the company’s stock, valued at approximately $13,603,396.10. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vikramaditya Kohli sold 1,000 shares of CBRE Group stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $154.90, for a total transaction of $154,900.00. Following the completion of the sale, the chief executive officer owned 111,473 shares of the company’s stock, valued at $17,267,167.70. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,898 shares of company stock valued at $1,277,458 over the last 90 days. 0.42% of the stock is owned by insiders.

CBRE Group Stock Up 2.3%

CBRE stock opened at $159.69 on Thursday. The firm has a market cap of $47.52 billion, a PE ratio of 44.73 and a beta of 1.34. CBRE Group, Inc. has a one year low of $108.45 and a one year high of $161.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50 day moving average price is $142.54 and its 200-day moving average price is $134.22.

CBRE Group (NYSE:CBRE) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. On average, equities research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CBRE. UBS Group lifted their target price on shares of CBRE Group from $130.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Morgan Stanley reiterated an “overweight” rating and set a $170.00 price target (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Evercore ISI upped their target price on shares of CBRE Group from $147.00 to $164.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Raymond James Financial increased their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on CBRE Group from $131.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.00.

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.