CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in CBRE Group, Inc. (NYSE:CBRE) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 740,565 shares of the financial services provider’s stock after selling 20,624 shares during the period. Lord Abbett & CO. LLC owned approximately 0.24% of CBRE Group worth $92,186,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CBRE. Diversified Trust Co increased its stake in shares of CBRE Group by 10.2% during the second quarter. Diversified Trust Co now owns 3,169 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 294 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in CBRE Group by 9.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,721 shares of the financial services provider’s stock worth $1,490,000 after purchasing an additional 1,497 shares during the period. TCW Group Inc. raised its stake in shares of CBRE Group by 1.3% during the 2nd quarter. TCW Group Inc. now owns 40,231 shares of the financial services provider’s stock worth $3,585,000 after buying an additional 523 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of CBRE Group by 18.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 941 shares of the financial services provider’s stock valued at $84,000 after buying an additional 144 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of CBRE Group in the 2nd quarter valued at approximately $200,000. 98.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the 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 completion of the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on CBRE shares. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. The Goldman Sachs Group started coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Evercore ISI increased their target price on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Citigroup upped their price target on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.63.

CBRE Group Stock Down 1.8 %

Shares of NYSE:CBRE opened at $137.16 on Friday. CBRE Group, Inc. has a 1 year low of $82.75 and a 1 year high of $142.00. The stock has a 50-day simple moving average of $131.69 and a 200-day simple moving average of $113.63. 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 $41.97 billion, a P/E ratio of 44.10 and a beta of 1.39.

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

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.