Busey Bank Has $24.20 Million Stake in CBRE Group, Inc. $CBRE

Key Points

• Busey Bank has reduced its stake in CBRE Group, owning approximately $24.20 million worth of shares after selling 3,631 shares in the second quarter.
• CBRE Group reported quarterly earnings of $1.19 per share, exceeding analysts' expectations of $1.05, and had a revenue of $9.75 billion.
• Several equity analysts have revised their price targets for CBRE Group, with JPMorgan raising theirs to $185.00, leading to an average price target of $165.22 across analysts.

Busey Bank decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,681 shares of the financial services provider's stock after selling 3,631 shares during the quarter. Busey Bank owned approximately 0.06% of CBRE Group worth $24,196,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in CBRE Group by 322.9% during the fourth quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider's stock worth $1,903,000 after acquiring an additional 11,065 shares in the last quarter. Woodline Partners LP bought a new stake in CBRE Group during the fourth quarter worth $2,372,000. Waverly Advisors LLC raised its position in CBRE Group by 54.2% during the fourth quarter. Waverly Advisors LLC now owns 3,611 shares of the financial services provider's stock worth $474,000 after acquiring an additional 1,269 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in CBRE Group during the fourth quarter worth $28,000. Finally, Neo Ivy Capital Management raised its position in CBRE Group by 248.4% during the fourth quarter. Neo Ivy Capital Management now owns 17,394 shares of the financial services provider's stock worth $2,283,000 after acquiring an additional 12,402 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.

CBRE Group Trading Down 1.1%

Shares of CBRE opened at $163.97 on Friday. The business's 50-day moving average price is $156.35 and its 200-day moving average price is $137.96. CBRE Group, Inc. has a twelve month low of $108.45 and a twelve month high of $167.56. The stock has a market cap of $48.79 billion, a PE ratio of 45.93 and a beta of 1.36. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Raymond James Financial increased their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of CBRE Group from $143.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, UBS Group increased their price objective on shares of CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $165.22.

Insider Buying and Selling at CBRE Group

In related news, CAO Lindsey S. Caplan sold 1,935 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total transaction of $270,900.00. Following the completion of the transaction, the chief accounting officer owned 20,131 shares in the company, valued at $2,818,340. This represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total value of $315,200.00. Following 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 disclosure for this sale can be found here. Insiders have sold 8,926 shares of company stock worth $1,338,073 over the last ninety days. Insiders own 0.42% of the company's stock.

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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