Olstein Capital Management L.P. Sells 12,000 Shares of CBRE Group, Inc. (NYSE:CBRE)

Olstein Capital Management L.P. lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 16.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 59,000 shares of the financial services provider’s stock after selling 12,000 shares during the quarter. CBRE Group accounts for approximately 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 27th biggest position. Olstein Capital Management L.P.’s holdings in CBRE Group were worth $7,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in CBRE Group by 5.4% during the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after purchasing an additional 692,697 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CBRE Group by 0.7% during the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock valued at $950,270,000 after buying an additional 56,888 shares during the last quarter. FMR LLC increased its position in shares of CBRE Group by 85.6% during the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after acquiring an additional 3,498,244 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CBRE Group by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after acquiring an additional 277,922 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in CBRE Group by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock valued at $763,909,000 after acquiring an additional 49,732 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE stock opened at $141.23 on Friday. CBRE Group, Inc. has a 52 week low of $82.75 and a 52 week high of $142.00. The firm’s 50-day simple moving average is $134.08 and its two-hundred day simple moving average is $122.90. The firm has a market cap of $43.22 billion, a price-to-earnings ratio of 45.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

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

Insider Buying and Selling at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction dated Friday, November 15th. The shares were 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 in the company, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

CBRE has been the subject of a number of recent research reports. The Goldman Sachs Group assumed coverage on CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective for the company. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Evercore ISI dropped their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Citigroup upped their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Morgan Stanley raised shares of CBRE Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $160.00 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and an average target price of $148.56.

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.