Bank of New York Mellon Corp Sells 305,007 Shares of CBRE Group, Inc. (NYSE:CBRE)

Bank of New York Mellon Corp reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 10.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,737,514 shares of the financial services provider’s stock after selling 305,007 shares during the period. Bank of New York Mellon Corp owned about 0.87% of CBRE Group worth $184,810,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBRE. Franklin Resources Inc. increased its holdings in CBRE Group by 692.8% during the 2nd quarter. Franklin Resources Inc. now owns 3,544,103 shares of the financial services provider’s stock worth $260,880,000 after purchasing an additional 3,097,072 shares in the last quarter. Cooke & Bieler LP bought a new position in shares of CBRE Group in the third quarter valued at approximately $90,882,000. Renaissance Technologies LLC grew its holdings in shares of CBRE Group by 150.3% in the first quarter. Renaissance Technologies LLC now owns 1,320,100 shares of the financial services provider’s stock valued at $120,816,000 after acquiring an additional 792,717 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in shares of CBRE Group in the third quarter valued at approximately $38,522,000. Finally, FMR LLC grew its holdings in shares of CBRE Group by 5.2% in the second quarter. FMR LLC now owns 10,999,939 shares of the financial services provider’s stock valued at $809,706,000 after acquiring an additional 540,866 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James reduced their target price on CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating for the company in a report on Friday, January 20th. Citigroup initiated coverage on CBRE Group in a report on Friday, January 27th. They issued a “buy” rating and a $100.00 target price for the company. StockNews.com initiated coverage on CBRE Group in a research note on Thursday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upped their price objective on CBRE Group from $80.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, March 3rd. Finally, Keefe, Bruyette & Woods downgraded CBRE Group from an “outperform” rating to a “market perform” rating and set a $88.00 price objective on the stock. in a research note on Thursday, January 26th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.43.

CBRE Group Trading Down 2.2 %

NYSE:CBRE opened at $73.87 on Friday. The company has a market cap of $22.89 billion, a P/E ratio of 17.30 and a beta of 1.38. The stock’s fifty day moving average price is $84.26 and its two-hundred day moving average price is $77.95. CBRE Group, Inc. has a 1 year low of $66.31 and a 1 year high of $94.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.03.

CBRE Group (NYSE:CBRE – Get Rating) last posted its earnings results on Thursday, February 23rd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.14. The firm had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $7.97 billion. CBRE Group had a return on equity of 21.07% and a net margin of 4.57%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.19 earnings per share. As a group, analysts expect that CBRE Group, Inc. will post 5 EPS for the current year.

About CBRE Group

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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.