Burney Co. Sells 12,289 Shares of CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Burney Co. significantly reduced its holdings in CBRE Group, Inc. by 81.1%, now owning just 2,858 shares valued at about $374,000 after selling 12,289 shares in Q1.
• Institutional investors hold approximately 98.41% of CBRE's stock, with notable increases in positions from firms like Cambridge Investment and USA Financial Formulas.
• CBRE Group recently reported Q1 earnings of $0.86 EPS, exceeding analysts' expectations, with revenues rising 12.3% year-over-year to $8.91 billion.

Burney Co. decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 81.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,858 shares of the financial services provider's stock after selling 12,289 shares during the period. Burney Co.'s holdings in CBRE Group were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in shares of CBRE Group by 4.8% during the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock worth $1,042,317,000 after purchasing an additional 368,214 shares during the period. Geode Capital Management LLC raised its position in shares of CBRE Group by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider's stock worth $1,035,229,000 after acquiring an additional 245,821 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of CBRE Group by 17.3% during the 4th quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider's stock worth $538,390,000 after buying an additional 605,403 shares in the last quarter. Norges Bank bought a new position in shares of CBRE Group during the 4th quarter worth about $514,609,000. Finally, Massachusetts Financial Services Co. MA increased its stake in CBRE Group by 217.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock valued at $511,781,000 after purchasing an additional 2,680,337 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.

CBRE Group Stock Performance

CBRE traded up $13.57 during trading on Tuesday, hitting $160.13. 1,922,258 shares of the stock were exchanged, compared to its average volume of 1,816,028. The stock has a fifty day moving average price of $134.81 and a two-hundred day moving average price of $132.45. CBRE Group, Inc. has a 1-year low of $105.17 and a 1-year high of $161.03. The firm has a market capitalization of $47.73 billion, a P/E ratio of 49.02 and a beta of 1.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. As a group, sell-side analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 1,972 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the sale, the chief financial officer owned 105,371 shares of the company's stock, valued at $13,603,396.10. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lindsey S. Caplan sold 1,497 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $209,580.00. Following the transaction, the chief accounting officer owned 28,211 shares in the company, valued at $3,949,540. This represents a 5.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,031 shares of company stock worth $814,080 in the last three months. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CBRE shares. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Wall Street Zen downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. JPMorgan Chase & Co. lowered their target price on CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. UBS Group raised their price objective on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Raymond James Financial raised their target price on CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.11.

CBRE Group Company 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.