Ethic Inc. lessened its stake in CBRE Group, Inc. (NYSE:CBRE) by 16.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,124 shares of the financial services provider’s stock after selling 974 shares during the quarter. Ethic Inc.’s holdings in CBRE Group were worth $241,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. IBM Retirement Fund grew its position in CBRE Group by 39.1% in the 3rd quarter. IBM Retirement Fund now owns 10,843 shares of the financial services provider’s stock valued at $509,000 after buying an additional 3,047 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of CBRE Group during the 2nd quarter valued at about $249,000. AXA boosted its position in shares of CBRE Group by 69.0% during the 1st quarter. AXA now owns 347,210 shares of the financial services provider’s stock valued at $13,094,000 after purchasing an additional 141,796 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of CBRE Group by 23.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 557,747 shares of the financial services provider’s stock valued at $25,221,000 after purchasing an additional 106,385 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of CBRE Group by 15.2% during the 2nd quarter. ProShare Advisors LLC now owns 77,076 shares of the financial services provider’s stock valued at $3,485,000 after purchasing an additional 10,169 shares in the last quarter. Hedge funds and other institutional investors own 94.41% of the company’s stock.
Several equities analysts have recently weighed in on CBRE shares. TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b” rating in a research report on Tuesday, September 22nd. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research report on Tuesday, October 6th. Raymond James reduced their price objective on shares of CBRE Group from $57.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, UBS Group raised their price objective on shares of CBRE Group from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.00.
In other CBRE Group news, CEO Daniel G. Queenan sold 6,506 shares of CBRE Group stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $46.80, for a total transaction of $304,480.80. Following the completion of the transaction, the chief executive officer now directly owns 150,909 shares of the company’s stock, valued at $7,062,541.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laurence H. Midler sold 7,500 shares of CBRE Group stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $49.90, for a total value of $374,250.00. Following the transaction, the executive vice president now directly owns 109,485 shares of the company’s stock, valued at $5,463,301.50. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.
Shares of CBRE opened at $51.30 on Friday. CBRE Group, Inc. has a one year low of $29.17 and a one year high of $64.75. The company has a 50-day moving average of $47.77 and a two-hundred day moving average of $45.13. The stock has a market cap of $17.20 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.87 and a beta of 1.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.23 and a quick ratio of 1.23.
CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 29th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.42 by $0.31. CBRE Group had a net margin of 4.72% and a return on equity of 17.96%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts anticipate that CBRE Group, Inc. will post 2.27 earnings per share for the current year.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.
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