Comerica Bank lessened its holdings in CBRE Group Inc (NYSE:CBRE) by 6.9% during the first quarter, HoldingsChannel.com reports. The fund owned 90,106 shares of the financial services provider’s stock after selling 6,717 shares during the quarter. Comerica Bank’s holdings in CBRE Group were worth $4,583,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CBRE. Banque Pictet & Cie SA increased its stake in CBRE Group by 55.4% during the 1st quarter. Banque Pictet & Cie SA now owns 22,421 shares of the financial services provider’s stock worth $1,109,000 after buying an additional 7,993 shares during the period. Candriam Luxembourg S.C.A. increased its stake in CBRE Group by 20.4% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 332,710 shares of the financial services provider’s stock worth $17,589,000 after buying an additional 56,339 shares during the period. Mckinley Capital Management LLC Delaware increased its stake in CBRE Group by 4.2% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 298,484 shares of the financial services provider’s stock worth $14,761,000 after buying an additional 12,004 shares during the period. Montag A & Associates Inc. increased its stake in CBRE Group by 75.7% during the 1st quarter. Montag A & Associates Inc. now owns 85,587 shares of the financial services provider’s stock worth $4,232,000 after buying an additional 36,865 shares during the period. Finally, Parallel Advisors LLC increased its stake in CBRE Group by 21.9% during the 1st quarter. Parallel Advisors LLC now owns 13,330 shares of the financial services provider’s stock worth $659,000 after buying an additional 2,393 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Michael J. Lafitte sold 32,706 shares of CBRE Group stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.54, for a total value of $1,652,961.24. Following the completion of the transaction, the chief executive officer now directly owns 372,946 shares of the company’s stock, valued at approximately $18,848,690.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James R. Groch sold 50,000 shares of CBRE Group stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.47, for a total transaction of $2,523,500.00. Following the completion of the transaction, the chief financial officer now directly owns 536,111 shares of the company’s stock, valued at $27,057,522.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,864,454 shares of company stock valued at $340,096,303. 0.74% of the stock is owned by company insiders.

Shares of CBRE stock opened at $47.75 on Thursday. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.21 and a beta of 1.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.52. CBRE Group Inc has a 1-year low of $37.45 and a 1-year high of $52.41.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.20. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. CBRE Group had a net margin of 4.94% and a return on equity of 24.72%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. Equities analysts forecast that CBRE Group Inc will post 3.61 earnings per share for the current fiscal year.

CBRE has been the topic of several analyst reports. Zacks Investment Research downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. William Blair reaffirmed an “outperform” rating on shares of CBRE Group in a research note on Wednesday, February 13th. Bank of America set a $54.00 price target on shares of CBRE Group and gave the stock a “hold” rating in a research note on Friday, March 8th. Finally, JMP Securities reissued a “hold” rating on shares of CBRE Group in a report on Monday, March 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $56.33.

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CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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