Alliancebernstein L.P. Sells 670,723 Shares of CBRE Group, Inc. (NYSE:CBRE)

Alliancebernstein L.P. lowered its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,987,580 shares of the financial services provider’s stock after selling 670,723 shares during the quarter. Alliancebernstein L.P. owned 0.65% of CBRE Group worth $260,949,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at CBRE Group

In other news, insider Chad J. Doellinger sold 797 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total value 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 trade represents a 2.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 107,343 shares of the company’s stock, 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. 0.54% of the stock is owned by corporate insiders.

CBRE Group Stock Up 1.1 %

Shares of CBRE Group stock opened at $130.86 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The stock has a market cap of $39.26 billion, a price-to-earnings ratio of 41.68 and a beta of 1.42. The firm’s 50-day moving average is $137.41 and its two-hundred day moving average is $132.45. CBRE Group, Inc. has a 1 year low of $84.24 and a 1 year high of $147.75.

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

Wall Street Analysts Forecast Growth

CBRE has been the subject of several analyst reports. Raymond James downgraded shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Evercore ISI cut their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group began coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 target price for the company. Finally, Morgan Stanley upped their price target on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Three 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.89.

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.