CBRE Group, Inc. $CBRE Shares Sold by Adelante Capital Management LLC

Key Points

• Adelante Capital Management LLC reduced its holdings in CBRE Group, Inc. by 34.1%, selling 15,451 shares during the first quarter.
• Several institutional investors significantly increased their stakes in CBRE Group, including Massachusetts Financial Services Co., which raised its stake by 217.4%.
• CBRE Group's stock received multiple analyst upgrades, with Raymond James Financial raising its price target from $163.00 to $166.00, and the stock currently holds an average rating of "Moderate Buy."

Adelante Capital Management LLC cut its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 34.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,858 shares of the financial services provider's stock after selling 15,451 shares during the period. Adelante Capital Management LLC's holdings in CBRE Group were worth $3,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in CBRE Group in the 1st quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new stake in shares of CBRE Group during the fourth quarter worth $28,000. Hughes Financial Services LLC acquired a new stake in shares of CBRE Group during the first quarter worth $28,000. Golden State Wealth Management LLC lifted its stake 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 buying an additional 213 shares during the period. Finally, Colonial Trust Co SC lifted its position in CBRE Group by 183.7% during the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock worth $36,000 after acquiring an additional 180 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Stock Performance

Shares of CBRE traded down $1.49 during trading hours on Tuesday, hitting $162.03. The stock had a trading volume of 1,377,735 shares, compared to its average volume of 1,443,947. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day moving average price of $152.69 and a 200 day moving average price of $136.58. CBRE Group, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $165.41. The firm has a market capitalization of $48.21 billion, a price-to-earnings ratio of 45.39 and a beta of 1.36.

CBRE Group (NYSE:CBRE - Get Free Report) last posted 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 analysts' expectations of $9.50 billion. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on CBRE shares. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their target price on CBRE Group from $143.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Evercore ISI lifted their price objective on shares of CBRE Group from $164.00 to $185.00 and gave the company an "outperform" rating in a research note on Monday, August 25th. Finally, UBS Group lifted their price objective on shares of CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $165.22.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 2,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total value of $315,200.00. Following the completion of the transaction, the chief financial officer owned 103,371 shares of the company's stock, valued at approximately $16,291,269.60. This represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vikramaditya Kohli sold 1,000 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $17,267,167.70. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,926 shares of company stock worth $1,338,073. Company insiders own 0.42% of the company's stock.

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.