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

Key Points

• Allstate Corp has reduced its holdings in CBRE Group, Inc. by 36.9% in the first quarter, now owning 5,775 shares valued at approximately $755,000.
• Several hedge funds, including Valeo Financial Advisors and Beverly Hills Private Wealth, have increased their stakes in CBRE Group, demonstrating ongoing investor interest in the company.
• CBRE Group reported quarterly earnings exceeding expectations, with an EPS of $1.19, beating estimates by $0.14, and setting FY 2025 guidance between $6.100 and $6.200 EPS.

Allstate Corp decreased its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 36.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC raised its holdings in CBRE Group by 4.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 2,217 shares of the financial services provider's stock worth $290,000 after purchasing an additional 85 shares during the period. Beverly Hills Private Wealth LLC raised its holdings in CBRE Group by 1.9% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,067 shares of the financial services provider's stock worth $663,000 after purchasing an additional 93 shares during the period. Verdence Capital Advisors LLC raised its holdings in CBRE Group by 1.3% in the 1st quarter. Verdence Capital Advisors LLC now owns 8,133 shares of the financial services provider's stock worth $1,064,000 after purchasing an additional 102 shares during the period. Legacy Advisors LLC raised its holdings in CBRE Group by 6.4% in the 1st quarter. Legacy Advisors LLC now owns 1,789 shares of the financial services provider's stock worth $234,000 after purchasing an additional 108 shares during the period. Finally, Aaron Wealth Advisors LLC raised its holdings in CBRE Group by 5.1% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,244 shares of the financial services provider's stock worth $293,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 98.41% of the company's stock.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the firm's stock in a transaction on 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 sale, the chief financial officer directly owned 103,371 shares of the company's stock, valued at $16,291,269.60. This trade represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lindsey S. Caplan sold 1,494 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total value of $232,122.78. Following the completion of the sale, the chief accounting officer directly owned 26,717 shares of the company's stock, valued at $4,151,020.29. This trade represents a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,926 shares of company stock valued at $1,338,073 in the last three months. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods upped 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. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Raymond James Financial upped 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. Evercore ISI increased their target price on CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley reissued 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. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $158.00.

CBRE Group Price Performance

Shares of CBRE Group stock opened at $164.4880 on Monday. The business has a 50 day simple moving average of $146.53 and a two-hundred day simple moving average of $134.86. CBRE Group, Inc. has a 12 month low of $108.45 and a 12 month high of $164.89. The stock has a market capitalization of $48.94 billion, a P/E ratio of 46.08 and a beta of 1.34. 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 posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 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 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. As a group, analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

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.

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