CBRE Group Inc (NYSE:CBRE) Holdings Reduced by Meiji Yasuda Life Insurance Co
Meiji Yasuda Life Insurance Co lowered its position in CBRE Group Inc (NYSE:CBRE) by 33.1% in the first quarter, Holdings Channel reports. The fund owned 7,969 shares of the financial services provider’s stock after selling 3,936 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in CBRE Group were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc acquired a new stake in shares of CBRE Group during the 3rd quarter worth about $2,289,833,000. BlackRock Inc. raised its stake in CBRE Group by 1.6% in the 1st quarter. BlackRock Inc. now owns 22,982,394 shares of the financial services provider’s stock worth $1,136,481,000 after purchasing an additional 363,540 shares in the last quarter. Harris Associates L P raised its stake in CBRE Group by 7.5% in the 4th quarter. Harris Associates L P now owns 14,433,299 shares of the financial services provider’s stock worth $577,909,000 after purchasing an additional 1,005,359 shares in the last quarter. FMR LLC raised its stake in CBRE Group by 3.5% in the 4th quarter. FMR LLC now owns 7,699,677 shares of the financial services provider’s stock worth $308,296,000 after purchasing an additional 263,050 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in CBRE Group by 5.5% in the 1st quarter. Wells Fargo & Company MN now owns 7,371,531 shares of the financial services provider’s stock worth $364,523,000 after purchasing an additional 384,607 shares in the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.
Shares of CBRE Group stock opened at $49.89 on Friday. CBRE Group Inc has a twelve month low of $37.45 and a twelve month high of $52.41. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.70.
In other CBRE Group news, CFO James R. Groch sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $52.00, for a total value of $2,600,000.00. Following the transaction, the chief financial officer now directly owns 454,918 shares of the company’s stock, valued at approximately $23,655,736. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Curtis F. Feeny sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $47.25, for a total transaction of $189,000.00. Following the completion of the transaction, the director now directly owns 8,444 shares in the company, valued at $398,979. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,766 shares of company stock worth $5,061,995. Insiders own 0.74% of the company’s stock.
Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, February 19th. JMP Securities reiterated a “hold” rating on shares of CBRE Group in a research note on Monday, March 11th. Finally, Bank of America set a $54.00 price objective on shares of CBRE Group and gave the stock a “hold” rating in a research note on Friday, March 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.33.
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About CBRE Group
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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