CBRE Group, Inc. (NYSE:CBRE) Position Reduced by Korea Investment CORP

Korea Investment CORP reduced its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 246,626 shares of the financial services provider’s stock after selling 84,159 shares during the quarter. Korea Investment CORP owned about 0.08% of CBRE Group worth $32,380,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hudson Valley Investment Advisors Inc. ADV acquired a new position in CBRE Group in the fourth quarter worth approximately $1,518,000. Merit Financial Group LLC purchased a new stake in shares of CBRE Group during the fourth quarter valued at $256,000. Fulton Bank N.A. boosted its position in shares of CBRE Group by 342.0% in the 4th quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after purchasing an additional 19,227 shares during the period. Prestige Wealth Management Group LLC increased its stake in CBRE Group by 17,304.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 3,807 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in CBRE Group during the 4th quarter worth about $175,978,000. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Trading Down 1.6 %

Shares of NYSE CBRE opened at $129.40 on Friday. The stock has a market cap of $38.82 billion, a price-to-earnings ratio of 41.21 and a beta of 1.42. The business has a 50 day simple moving average of $137.54 and a 200 day simple moving average of $132.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. On average, research analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Thursday. Evercore ISI lowered their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Three 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $149.89.

Insiders Place Their Bets

In other CBRE Group news, insider Chad J. Doellinger sold 797 shares of the company’s 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 completion of the sale, the insider now owns 28,735 shares of the company’s stock, valued at $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the transaction, the chief financial officer now directly owns 107,343 shares in the company, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Company 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.