Olstein Capital Management L.P. Has $7.75 Million Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Olstein Capital Management L.P. trimmed its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 16.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 59,000 shares of the financial services provider’s stock after selling 12,000 shares during the quarter. CBRE Group comprises about 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 27th biggest holding. Olstein Capital Management L.P.’s holdings in CBRE Group were worth $7,746,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CBRE. FMR LLC boosted its holdings in shares of CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of CBRE Group by 60.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after buying an additional 993,963 shares during the last quarter. State Street Corp boosted its stake in CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after buying an additional 692,697 shares in the last quarter. SG Americas Securities LLC grew its position in CBRE Group by 908.7% in the third quarter. SG Americas Securities LLC now owns 350,935 shares of the financial services provider’s stock valued at $43,684,000 after acquiring an additional 316,144 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in CBRE Group by 3.9% during the third 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 in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CBRE. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and raised their price target for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Citigroup raised their target price on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Evercore ISI decreased their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Morgan Stanley upgraded CBRE Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $115.00 to $160.00 in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group started coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.56.

CBRE Group Trading Up 0.1 %

NYSE CBRE opened at $141.23 on Friday. The firm has a market capitalization of $43.22 billion, a PE ratio of 45.41 and a beta of 1.39. The business’s 50-day moving average price is $134.08 and its two-hundred day moving average price is $122.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a 12 month low of $82.75 and a 12 month high of $142.00.

CBRE Group (NYSE:CBRE) last announced its earnings results 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 analysts’ expectations of $8.80 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. On average, analysts expect that CBRE Group, Inc. will post 4.99 EPS for the current year.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

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.