Adage Capital Partners GP L.L.C. Sells 46,200 Shares of CBRE Group, Inc. $CBRE

Key Points

• Adage Capital Partners GP L.L.C. reduced its position in CBRE Group, Inc. by 6.7%, selling 46,200 shares and holding approximately 0.21% of the company worth $83.67 million.
• Analyst ratings have generally been positive, with several firms raising their price targets, leading to a consensus rating of "Moderate Buy" with an average target of $165.22.
• Insider trading activity included CFO Emma E. Giamartino and CEO Vikramaditya Kohli selling shares, reflecting minor decreases in their holdings.

Adage Capital Partners GP L.L.C. trimmed its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 639,800 shares of the financial services provider's stock after selling 46,200 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.21% of CBRE Group worth $83,673,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. WPG Advisers LLC acquired a new position in shares of CBRE Group during the first quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new position in shares of CBRE Group during the fourth quarter worth approximately $28,000. Hughes Financial Services LLC acquired a new position in shares of CBRE Group during the first quarter worth approximately $28,000. Golden State Wealth Management LLC raised its position in shares of CBRE Group by 687.1% during the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after purchasing an additional 213 shares during the period. Finally, Colonial Trust Co SC raised its position in shares of CBRE Group by 183.7% during the fourth quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock worth $36,000 after purchasing an additional 180 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CBRE Group

In other 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 completion of the transaction, the chief financial officer owned 103,371 shares in the company, valued at approximately $16,291,269.60. This represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lindsey S. Caplan sold 1,935 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total value of $270,900.00. Following the transaction, the chief accounting officer owned 20,131 shares of the company's stock, valued at $2,818,340. The trade was a 8.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,926 shares of company stock worth $1,338,073. 0.42% of the stock is owned by company insiders.

CBRE Group Stock Performance

Shares of CBRE Group stock traded up $2.68 during trading hours on Friday, hitting $164.37. 1,285,140 shares of the company's stock traded hands, compared to its average volume of 1,436,419. CBRE Group, Inc. has a 12-month low of $108.45 and a 12-month high of $165.41. The stock has a market capitalization of $48.91 billion, a price-to-earnings ratio of 46.04 and a beta of 1.36. The company has a fifty day simple moving average of $151.81 and a 200-day simple moving average of $136.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. The firm had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. Equities research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Raymond James Financial increased their price target on CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Evercore ISI increased their price target on CBRE Group from $164.00 to $185.00 and gave the company an "outperform" rating in a research report on Monday, August 25th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on CBRE Group from $143.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $165.22.

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.