Advisors Asset Management Inc. Sells 1,300 Shares of CBRE Group, Inc. (NYSE:CBRE)

Advisors Asset Management Inc. trimmed its position in CBRE Group, Inc. (NYSE:CBREGet Rating) by 5.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,633 shares of the financial services provider’s stock after selling 1,300 shares during the period. Advisors Asset Management Inc.’s holdings in CBRE Group were worth $1,740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Metis Global Partners LLC boosted its stake in CBRE Group by 19.4% during the 2nd quarter. Metis Global Partners LLC now owns 6,324 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 1,028 shares during the last quarter. TownSquare Capital LLC boosted its stake in CBRE Group by 6.1% during the 2nd quarter. TownSquare Capital LLC now owns 2,918 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 168 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in CBRE Group during the 2nd quarter valued at about $321,000. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in CBRE Group by 13.0% during the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,167 shares of the financial services provider’s stock valued at $822,000 after purchasing an additional 1,289 shares during the last quarter. Finally, Kentucky Retirement Systems boosted its stake in CBRE Group by 13.7% during the 2nd quarter. Kentucky Retirement Systems now owns 24,259 shares of the financial services provider’s stock valued at $1,786,000 after purchasing an additional 2,927 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $75.22 on Tuesday. CBRE Group, Inc. has a twelve month low of $66.31 and a twelve month high of $111.00. The stock’s 50 day moving average price is $72.40 and its 200-day moving average price is $76.92. The company has a market capitalization of $23.77 billion, a PE ratio of 12.41 and a beta of 1.37. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

CBRE has been the subject of a number of analyst reports. Raymond James cut their price target on CBRE Group from $113.00 to $105.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 20th. The Goldman Sachs Group cut their price target on CBRE Group from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Evercore ISI cut their target price on CBRE Group to $95.00 in a research note on Friday, September 30th. StockNews.com assumed coverage on CBRE Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, UBS Group cut their target price on CBRE Group from $95.00 to $86.00 in a research note on Wednesday, September 21st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CBRE Group currently has a consensus rating of “Buy” and a consensus target price of $100.83.

CBRE Group Profile

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CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.

Further Reading

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

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