Chevy Chase Trust Holdings LLC Sells 3,659 Shares of CBRE Group, Inc. (NYSE:CBRE)

Chevy Chase Trust Holdings LLC lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 159,487 shares of the financial services provider’s stock after selling 3,659 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in CBRE Group were worth $20,939,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CBRE. Algert Global LLC purchased a new position in CBRE Group during the third quarter valued at approximately $1,829,000. Hudson Valley Investment Advisors Inc. ADV acquired a new position in CBRE Group during the fourth quarter worth $1,518,000. Merit Financial Group LLC acquired a new position in CBRE Group during the fourth quarter worth $256,000. Fulton Bank N.A. boosted its stake in CBRE Group by 342.0% during the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after buying an additional 19,227 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in CBRE Group by 17,304.5% in the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 3,807 shares during the period. Institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CBRE. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $155.00 to $152.00 in a report on Friday, January 24th. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. 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 for the company. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $163.00 in a research report on Monday, December 16th. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.33.

CBRE Group Stock Performance

Shares of CBRE stock opened at $143.89 on Friday. CBRE Group, Inc. has a 12-month low of $84.24 and a 12-month high of $147.75. The firm has a market capitalization of $44.03 billion, a price-to-earnings ratio of 46.27 and a beta of 1.39. The business has a 50 day simple moving average of $136.08 and a 200 day simple moving average of $127.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. On average, equities research analysts anticipate that CBRE Group, Inc. will post 4.99 EPS for the current year.

About CBRE Group

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.