CBRE Group, Inc. (NYSE:CBRE) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its holdings in CBRE Group, Inc. (NYSE:CBRE) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,754 shares of the financial services provider’s stock after selling 96 shares during the quarter. OLD National Bancorp IN’s holdings in CBRE Group were worth $230,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Busey Bank increased its position in CBRE Group by 2.2% during the fourth quarter. Busey Bank now owns 173,502 shares of the financial services provider’s stock worth $22,779,000 after buying an additional 3,697 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CBRE Group during the fourth quarter valued at $175,978,000. Hantz Financial Services Inc. boosted its stake in shares of CBRE Group by 2.6% during the fourth quarter. Hantz Financial Services Inc. now owns 8,287 shares of the financial services provider’s stock valued at $1,088,000 after acquiring an additional 211 shares during the last quarter. Forsta AP Fonden increased its position in CBRE Group by 2.1% during the 4th quarter. Forsta AP Fonden now owns 62,500 shares of the financial services provider’s stock worth $8,206,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Patton Fund Management Inc. acquired a new position in CBRE Group in the 4th quarter valued at about $7,018,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore ISI lowered their price target on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Morgan Stanley raised shares of CBRE Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $160.00 in a research note on Wednesday, January 15th. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $163.00 in a research note on Monday, December 16th. The Goldman Sachs Group initiated coverage on CBRE Group in a research report on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective for the company. Finally, Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and a consensus target price of $148.56.

CBRE Group Price Performance

CBRE opened at $144.74 on Monday. The company has a 50 day moving average of $135.15 and a two-hundred day moving average of $124.86. CBRE Group, Inc. has a 52-week low of $82.75 and a 52-week high of $147.10. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $44.29 billion, a P/E ratio of 46.54 and a beta of 1.39.

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.