Allstate Corp Lowers Holdings in CBRE Group, Inc. $CBRE

Allstate Corp trimmed its holdings in CBRE Group, Inc. (NYSE:CBRE) by 36.9% in the 1st quarter, HoldingsChannel reports. The fund owned 5,775 shares of the financial services provider’s stock after selling 3,380 shares during the quarter. Allstate Corp’s holdings in CBRE Group were worth $755,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in shares of CBRE Group during the fourth quarter worth $28,000. Hughes Financial Services LLC acquired a new stake in CBRE Group in the first quarter valued at $28,000. Golden State Wealth Management LLC raised its stake in CBRE Group by 687.1% in the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider’s stock valued at $32,000 after buying an additional 213 shares in the last quarter. Colonial Trust Co SC raised its stake in CBRE Group by 183.7% in the fourth quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider’s stock valued at $36,000 after buying an additional 180 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of CBRE Group by 1,400.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 266 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CBRE. Wall Street Zen upgraded CBRE Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Evercore ISI raised their price target on CBRE Group from $147.00 to $164.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Raymond James Financial raised their price target on CBRE Group from $163.00 to $166.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods raised their price target on CBRE Group from $131.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

CBRE Group Price Performance

CBRE stock opened at $164.4880 on Monday. CBRE Group, Inc. has a 1 year low of $108.45 and a 1 year high of $164.89. The firm has a market cap of $48.94 billion, a P/E ratio of 46.08 and a beta of 1.34. The stock’s 50 day moving average price is $146.53 and its 200 day moving average price is $134.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%.The company had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. On average, sell-side analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total transaction of $315,200.00. Following the transaction, the chief financial officer owned 103,371 shares of the company’s stock, valued at $16,291,269.60. This represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vikramaditya Kohli sold 1,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $154.90, for a total value of $154,900.00. Following the transaction, the chief executive officer directly owned 111,473 shares in the company, valued at approximately $17,267,167.70. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,926 shares of company stock valued at $1,338,073 in the last quarter. 0.42% of the stock is currently owned by company 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.