MERIAN GLOBAL INVESTORS UK Ltd Decreases Holdings in CBRE Group Inc (CBRE)

MERIAN GLOBAL INVESTORS UK Ltd reduced its position in shares of CBRE Group Inc (NYSE:CBRE) by 48.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,511,541 shares of the financial services provider’s stock after selling 1,420,622 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in CBRE Group were worth $74,745,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc bought a new stake in shares of CBRE Group during the 3rd quarter worth $2,289,833,000. JPMorgan Chase & Co. bought a new stake in shares of CBRE Group during the 3rd quarter worth $638,351,000. Harris Associates L P boosted its stake in shares of CBRE Group by 7.5% during the 4th quarter. Harris Associates L P now owns 14,433,299 shares of the financial services provider’s stock worth $577,909,000 after acquiring an additional 1,005,359 shares in the last quarter. FMR LLC boosted its stake in shares of CBRE Group by 3.5% during the 4th quarter. FMR LLC now owns 7,699,677 shares of the financial services provider’s stock worth $308,296,000 after acquiring an additional 263,050 shares in the last quarter. Finally, Cantillon Capital Management LLC boosted its stake in shares of CBRE Group by 0.7% during the 4th quarter. Cantillon Capital Management LLC now owns 7,114,471 shares of the financial services provider’s stock worth $284,863,000 after acquiring an additional 49,432 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

CBRE opened at $47.38 on Friday. The firm has a market capitalization of $16.06 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.71. CBRE Group Inc has a 12-month low of $37.45 and a 12-month high of $52.41. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.52.

CBRE Group (NYSE:CBRE) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.20. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. CBRE Group had a return on equity of 24.72% and a net margin of 4.94%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. Sell-side analysts anticipate that CBRE Group Inc will post 3.61 EPS for the current fiscal year.

In other news, CFO James R. Groch sold 50,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $52.00, for a total value of $2,600,000.00. Following the completion of the sale, the chief financial officer now owns 454,918 shares in the company, valued at $23,655,736. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Lafitte sold 32,706 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.54, for a total value of $1,652,961.24. Following the completion of the sale, the chief executive officer now owns 372,946 shares of the company’s stock, valued at approximately $18,848,690.84. The disclosure for this sale can be found here. Insiders sold 6,864,454 shares of company stock valued at $340,096,303 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised CBRE Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. William Blair reissued an “outperform” rating on shares of CBRE Group in a research note on Wednesday, February 13th. JMP Securities reissued a “hold” rating on shares of CBRE Group in a research note on Monday, March 11th. Finally, Bank of America set a $54.00 price objective on CBRE Group and gave the stock a “hold” rating in a research note on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $56.33.

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CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

Further Reading: What is Net Asset Value (NAV)?

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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