Jennison Associates LLC Sells 54,923 Shares of CBRE Group, Inc. (NYSE:CBRE)

Jennison Associates LLC trimmed its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 11.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 426,417 shares of the financial services provider’s stock after selling 54,923 shares during the period. Jennison Associates LLC’s holdings in CBRE Group were worth $39,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBRE. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CBRE Group in the fourth quarter valued at approximately $45,000. Cary Street Partners Investment Advisory LLC raised its stake in 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 acquiring an additional 326 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in CBRE Group during the 4th quarter valued at $48,000. Planned Solutions Inc. bought a new position in CBRE Group during the fourth quarter worth $52,000. Finally, Headinvest LLC acquired a new position in shares of CBRE Group in the third quarter valued at $44,000. 98.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares of the company’s stock, valued at approximately $6,766,895.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO John E. Durburg sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the sale, the chief executive officer now owns 207,856 shares in the company, valued at $19,164,323.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction on Monday, March 11th. The stock was 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 directly owns 72,350 shares of the company’s stock, 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 quarter. Insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE stock opened at $87.11 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.17 and a quick ratio of 1.17. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $98.65. The business’s 50 day simple moving average is $92.40 and its 200 day simple moving average is $85.18. The stock has a market capitalization of $26.74 billion, a PE ratio of 27.48 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. The company had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.44 billion. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. As a group, research analysts forecast that CBRE Group, Inc. will post 4.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Raymond James lifted their target price on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 25th. Evercore ISI upped their price target on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods increased their target price on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 25th. Finally, StockNews.com upgraded CBRE Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and an average price target of $99.50.

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.