CBRE Group, Inc. (NYSE:CBRE) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 53.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,392 shares of the financial services provider’s stock after selling 157,323 shares during the quarter. AMF Tjanstepension AB’s holdings in CBRE Group were worth $13,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harris Associates L P boosted its holdings in CBRE Group by 4.5% during the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after acquiring an additional 683,225 shares during the period. Principal Financial Group Inc. boosted its holdings in CBRE Group by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 6,867,581 shares of the financial services provider’s stock valued at $639,303,000 after acquiring an additional 46,763 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in CBRE Group by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,868,834 shares of the financial services provider’s stock valued at $546,330,000 after acquiring an additional 44,648 shares during the period. Cantillon Capital Management LLC boosted its holdings in CBRE Group by 13.1% during the 4th quarter. Cantillon Capital Management LLC now owns 5,215,510 shares of the financial services provider’s stock valued at $485,512,000 after acquiring an additional 603,771 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of CBRE Group by 164.1% in the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after buying an additional 2,799,097 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Trading Up 0.7 %

CBRE opened at $89.11 on Friday. The firm has a market cap of $27.34 billion, a price-to-earnings ratio of 27.76 and a beta of 1.41. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $98.65. The business’s 50 day moving average is $87.95 and its two-hundred day moving average is $89.46. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last released its earnings results on Friday, May 3rd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.94 billion. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, research analysts predict that CBRE Group, Inc. will post 4.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CBRE. StockNews.com cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Jefferies Financial Group began coverage on CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price objective for the company. Finally, Evercore ISI lifted their price objective on CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research note on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.50.

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.