Alliancebernstein L.P. Trims Holdings in CBRE Group, Inc. (NYSE:CBRE)

Alliancebernstein L.P. lowered its position in CBRE Group, Inc. (NYSE:CBRE) by 25.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,987,580 shares of the financial services provider’s stock after selling 670,723 shares during the period. Alliancebernstein L.P.’s holdings in CBRE Group were worth $260,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CBRE. Principal Financial Group Inc. grew its position in CBRE Group by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after purchasing an additional 277,922 shares during the period. Townsquare Capital LLC grew its holdings in CBRE Group by 70.9% during the third quarter. Townsquare Capital LLC now owns 5,595 shares of the financial services provider’s stock worth $696,000 after acquiring an additional 2,322 shares during the period. Freedom Investment Management Inc. purchased a new position in CBRE Group during the third quarter valued at approximately $208,000. Captrust Financial Advisors lifted its holdings in CBRE Group by 4.2% in the third quarter. Captrust Financial Advisors now owns 20,166 shares of the financial services provider’s stock valued at $2,510,000 after acquiring an additional 815 shares during the period. Finally, Verition Fund Management LLC boosted its position in CBRE Group by 33.5% in the 3rd quarter. Verition Fund Management LLC now owns 13,422 shares of the financial services provider’s stock worth $1,671,000 after purchasing an additional 3,370 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Activity at CBRE Group

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

CBRE Group Stock Performance

NYSE CBRE opened at $130.86 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $137.41 and its 200-day simple moving average is $132.45. The company has a market cap of $39.26 billion, a PE ratio of 41.68 and a beta of 1.42. CBRE Group, Inc. has a 1-year low of $84.24 and a 1-year high of $147.75.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. As a group, equities research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CBRE. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised shares of 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 research note on Monday, December 16th. Morgan Stanley lifted their price target on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI lowered their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

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.