Allspring Global Investments Holdings LLC Sells 909,444 Shares of CBRE Group, Inc. (NYSE:CBRE)

Allspring Global Investments Holdings LLC trimmed its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 14.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,227,358 shares of the financial services provider’s stock after selling 909,444 shares during the period. CBRE Group comprises approximately 1.1% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 7th largest position. Allspring Global Investments Holdings LLC’s holdings in CBRE Group were worth $679,113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of CBRE Group by 5.4% in 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 raised its holdings in CBRE Group by 0.7% in 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 acquiring an additional 56,888 shares in the last quarter. FMR LLC raised its holdings in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after acquiring an additional 3,498,244 shares in the last quarter. Principal Financial Group Inc. boosted its stake in CBRE Group by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock valued at $924,223,000 after acquiring an additional 277,922 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of CBRE Group by 12.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,983,867 shares of the financial services provider’s stock worth $391,752,000 after purchasing an additional 338,298 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group began coverage on CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Finally, Citigroup increased their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Three 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $148.56.

CBRE Group Stock Performance

Shares of CBRE opened at $141.74 on Wednesday. The firm has a fifty day moving average of $135.67 and a 200-day moving average of $126.93. The company has a market cap of $43.38 billion, a price-to-earnings ratio of 45.58 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, Inc. has a 1 year low of $84.21 and a 1 year high of $147.75.

Insider Activity at CBRE Group

In related 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 transaction of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by insiders.

CBRE Group 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.