CBRE Group, Inc. (NYSE:CBRE) Stake Decreased by Hosking Partners LLP

Key Points

• Hosking Partners LLP reduced its stake in CBRE Group, Inc. by 0.9% during the first quarter, now owning 563,976 shares valued at approximately $73.76 million.
• Several institutional investors have increased their holdings in CBRE Group, including Principal Financial Group, which raised its position by 4.8%, now holding nearly $1.04 billion in shares.
• CBRE Group reported earnings per share of $1.19 for the last quarter, surpassing expectations, with analysts projecting an average earnings estimate of 5.99 for the current year.

Hosking Partners LLP cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 563,976 shares of the financial services provider's stock after selling 5,351 shares during the quarter. CBRE Group comprises approximately 3.1% of Hosking Partners LLP's investment portfolio, making the stock its 7th biggest position. Hosking Partners LLP owned 0.19% of CBRE Group worth $73,757,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Townsquare Capital LLC raised its position in CBRE Group by 25.3% in the 1st quarter. Townsquare Capital LLC now owns 10,040 shares of the financial services provider's stock valued at $1,313,000 after purchasing an additional 2,028 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in CBRE Group in the 1st quarter valued at about $56,000. Forsta AP Fonden raised its position in CBRE Group by 44.8% in the 1st quarter. Forsta AP Fonden now owns 90,500 shares of the financial services provider's stock valued at $11,836,000 after purchasing an additional 28,000 shares in the last quarter. National Bank of Canada FI raised its position in CBRE Group by 46.5% in the 1st quarter. National Bank of Canada FI now owns 223,077 shares of the financial services provider's stock valued at $29,174,000 after purchasing an additional 70,759 shares in the last quarter. Finally, Citigroup Inc. raised its position in CBRE Group by 89.7% in the 1st quarter. Citigroup Inc. now owns 387,331 shares of the financial services provider's stock valued at $50,655,000 after purchasing an additional 183,099 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CBRE has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. 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. Keefe, Bruyette & Woods raised 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. Evercore ISI raised their target price on CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, UBS Group raised their target price on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $158.00.

CBRE Group Stock Performance

CBRE traded up $2.58 during trading on Tuesday, hitting $156.07. 1,153,073 shares of the stock were exchanged, compared to its average volume of 1,830,551. The firm has a market capitalization of $46.44 billion, a P/E ratio of 43.72 and a beta of 1.34. CBRE Group, Inc. has a 1-year low of $107.86 and a 1-year high of $161.03. The stock has a fifty day moving average price of $141.27 and a two-hundred day moving average price of $133.89. 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 released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. The company had revenue of $9.75 billion for 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%. As a group, sell-side analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Activity at CBRE Group

In other news, CAO Lindsey S. Caplan sold 1,935 shares of the business'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 value of $270,900.00. Following the transaction, the chief accounting officer owned 20,131 shares of the company's stock, valued at approximately $2,818,340. The trade was a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer directly owned 105,371 shares in the company, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,898 shares of company stock worth $1,122,558. 0.42% of the stock is currently owned by corporate insiders.

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.