Generation Investment Management LLP trimmed its stake in CBRE Group, Inc. (NYSE:CBRE) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,847,584 shares of the financial services provider’s stock after selling 26,270 shares during the period. CBRE Group comprises approximately 3.3% of Generation Investment Management LLP’s investment portfolio, making the stock its 16th biggest position. Generation Investment Management LLP’s holdings in CBRE Group were worth $779,042,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baird Financial Group Inc. acquired a new stake in CBRE Group during the 4th quarter worth about $237,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in CBRE Group by 2,286.7% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 23,700 shares of the financial services provider’s stock worth $1,486,000 after acquiring an additional 22,707 shares during the period. LPL Financial LLC grew its stake in shares of CBRE Group by 3.4% in the 4th quarter. LPL Financial LLC now owns 17,035 shares of the financial services provider’s stock valued at $1,068,000 after buying an additional 558 shares during the period. Tompkins Financial Corp acquired a new stake in shares of CBRE Group in the 4th quarter valued at about $61,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of CBRE Group by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,659,323 shares of the financial services provider’s stock valued at $104,073,000 after buying an additional 9,497 shares during the period. Institutional investors and hedge funds own 93.94% of the company’s stock.
NYSE CBRE traded down $0.58 during trading hours on Thursday, hitting $85.38. The company’s stock had a trading volume of 32,251 shares, compared to its average volume of 1,224,183. CBRE Group, Inc. has a 52 week low of $41.03 and a 52 week high of $90.21. The stock has a market capitalization of $28.66 billion, a P/E ratio of 34.03, a PEG ratio of 1.89 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 1.37. The company’s 50-day moving average price is $86.69.
Several analysts have recently commented on the company. Raymond James raised their target price on CBRE Group from $89.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, May 3rd. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research note on Thursday, May 13th. Finally, Wolfe Research assumed coverage on CBRE Group in a research note on Monday, June 14th. They issued an “outperform” rating and a $112.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $81.33.
In related news, insider Chandra Dhandapani sold 11,000 shares of CBRE Group stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $84.93, for a total value of $934,230.00. Following the sale, the insider now owns 77,636 shares of the company’s stock, valued at approximately $6,593,625.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by company insiders.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.
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