Allspring Global Investments Holdings LLC Sells 909,444 Shares of CBRE Group, Inc. (NYSE:CBRE)

Allspring Global Investments Holdings LLC lowered its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,227,358 shares of the financial services provider’s stock after selling 909,444 shares during the period. CBRE Group comprises 1.1% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 7th largest holding. Allspring Global Investments Holdings LLC owned approximately 1.71% of CBRE Group worth $679,113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CBRE. FMR LLC raised its stake in CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of CBRE Group during the fourth quarter worth about $175,978,000. Robeco Institutional Asset Management B.V. raised its position in shares of CBRE Group by 60.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after buying an additional 993,963 shares during the last quarter. State Street Corp raised its position in shares of CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after buying an additional 692,697 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of CBRE Group by 88.6% during the fourth quarter. Jennison Associates LLC now owns 716,086 shares of the financial services provider’s stock valued at $94,015,000 after buying an additional 336,359 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

CBRE has been the subject of several analyst reports. Evercore ISI cut their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group began coverage on CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 target price for the company. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Raymond James downgraded shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $155.00 to $152.00 in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.56.

CBRE Group Stock Down 1.5 %

Shares of NYSE:CBRE opened at $141.74 on Wednesday. CBRE Group, Inc. has a 1 year low of $84.21 and a 1 year high of $147.75. The stock has a 50-day simple moving average of $135.67 and a 200-day simple moving average of $126.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $43.38 billion, a P/E ratio of 45.58 and a beta of 1.39.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the sale, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

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.