BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 7,346 Shares of CBRE Group, Inc. (NYSE:CBRE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in CBRE Group, Inc. (NYSE:CBRE) by 12.5% during the 3rd quarter, Holdings Channel reports. The firm owned 51,199 shares of the financial services provider’s stock after selling 7,346 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CBRE Group were worth $6,373,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Canton Hathaway LLC bought a new position in CBRE Group in the third quarter valued at approximately $27,000. American National Bank & Trust bought a new position in shares of CBRE Group in the 3rd quarter worth $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of CBRE Group during the third quarter worth $32,000. Wolff Wiese Magana LLC increased its holdings in CBRE Group by 2,830.0% in the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 283 shares during the last quarter. Finally, Asset Dedication LLC acquired a new position in CBRE Group in the third quarter valued at about $40,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Activity at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

CBRE has been the subject of several analyst reports. Citigroup boosted their target price on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI upped their target price on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

CBRE Group Stock Down 1.1 %

Shares of CBRE stock opened at $138.39 on Tuesday. CBRE Group, Inc. has a 12-month low of $80.59 and a 12-month high of $142.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average of $129.13 and a 200-day moving average of $110.92. The company has a market capitalization of $42.35 billion, a price-to-earnings ratio of 44.50 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, equities research analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal 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.