Korea Investment CORP Sells 84,159 Shares of CBRE Group, Inc. (NYSE:CBRE)

Korea Investment CORP lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 25.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,626 shares of the financial services provider’s stock after selling 84,159 shares during the quarter. Korea Investment CORP’s holdings in CBRE Group were worth $32,380,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CBRE. State Street Corp lifted its position in shares of CBRE Group by 5.4% in the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after acquiring an additional 692,697 shares during the period. Geode Capital Management LLC raised its stake in shares of CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock valued at $950,270,000 after purchasing an additional 56,888 shares in the last quarter. Principal Financial Group Inc. lifted its position in CBRE Group by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 7,601,790 shares of the financial services provider’s stock worth $998,039,000 after purchasing an additional 177,119 shares during the period. Cantillon Capital Management LLC boosted its stake in CBRE Group by 0.5% during the fourth quarter. Cantillon Capital Management LLC now owns 4,748,386 shares of the financial services provider’s stock worth $623,416,000 after buying an additional 25,142 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in CBRE Group by 12.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,983,867 shares of the financial services provider’s stock valued at $391,752,000 after buying an additional 338,298 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.69, for a total transaction of $251,380.00. Following the transaction, the chief financial officer now owns 107,343 shares of the company’s stock, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad J. Doellinger sold 797 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total value of $100,669.07. Following the completion of the transaction, the insider now owns 28,735 shares in the company, valued at $3,629,517.85. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

CBRE Group Price Performance

CBRE Group stock opened at $129.40 on Friday. The business’s fifty day moving average is $137.54 and its two-hundred day moving average is $132.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. The firm has a market cap of $38.82 billion, a P/E ratio of 41.21 and a beta of 1.42. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Equities research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CBRE. The Goldman Sachs Group began coverage on shares of CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $155.00 to $152.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $163.00 in a report on Monday, December 16th. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Evercore ISI dropped their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.89.

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.