CBRE Group, Inc. (NYSE:CBRE) Position Reduced by Mackenzie Financial Corp

Mackenzie Financial Corp cut its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 5.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,576 shares of the financial services provider’s stock after selling 2,434 shares during the period. Mackenzie Financial Corp’s holdings in CBRE Group were worth $3,870,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CBRE. Belpointe Asset Management LLC increased its holdings in shares of CBRE Group by 57.4% in the 1st quarter. Belpointe Asset Management LLC now owns 499 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 182 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of CBRE Group by 190.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 497 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 326 shares during the period. Headinvest LLC acquired a new position in shares of CBRE Group in the 3rd quarter valued at about $44,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of CBRE Group in the 4th quarter valued at about $45,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of CBRE Group in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CBRE shares. TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Raymond James increased their price objective on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group assumed coverage on CBRE Group in a report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $99.50.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total transaction of $249,444.51. Following the transaction, the chief financial officer now owns 72,350 shares in the company, valued at approximately $6,766,895.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CBRE Group news, CEO Chandra Dhandapani sold 11,925 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $94.03, for a total value of $1,121,307.75. Following the sale, the chief executive officer now owns 127,064 shares in the company, valued at approximately $11,947,827.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the sale, the chief financial officer now owns 72,350 shares in the company, valued at approximately $6,766,895.50. The disclosure for this sale can be found here. Insiders have sold 39,592 shares of company stock worth $3,675,752 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $84.90 on Monday. The business has a fifty day moving average of $92.40 and a 200-day moving average of $84.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $26.06 billion, a PE ratio of 26.78 and a beta of 1.42. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $98.65.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, February 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The firm had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the business earned $1.33 earnings per share. The company’s revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts predict that CBRE Group, Inc. will post 4.44 EPS for the current fiscal year.

CBRE Group Company 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.