CBRE Group, Inc. (NYSE:CBRE) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 11.5% during the third quarter, Holdings Channel reports. The firm owned 3,373,304 shares of the financial services provider’s stock after selling 439,348 shares during the quarter. JPMorgan Chase & Co.’s holdings in CBRE Group were worth $419,909,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in CBRE Group during the 3rd quarter worth approximately $27,000. American National Bank & Trust acquired a new stake in shares of CBRE Group in the third quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in CBRE Group in the third quarter valued at $32,000. Wolff Wiese Magana LLC grew its stake in CBRE Group by 2,830.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 283 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in CBRE Group during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CBRE shares. Citigroup lifted their price objective on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Evercore ISI boosted their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. The Goldman Sachs Group began coverage on shares of CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.33.

CBRE Group Stock Down 1.0 %

CBRE opened at $130.63 on Friday. CBRE Group, Inc. has a one year low of $82.75 and a one year high of $142.00. 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 $39.98 billion, a P/E ratio of 42.00 and a beta of 1.39. The business’s 50-day simple moving average is $133.53 and its 200-day simple moving average is $116.96.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. Analysts anticipate that CBRE Group, Inc. will post 4.99 EPS for the current year.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the business’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 transaction, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by insiders.

About CBRE Group

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.