US Bancorp DE Cuts Position in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• US Bancorp DE reduced its stake in CBRE Group by 4.7%, holding 84,438 shares worth approximately $11 million after selling 4,183 shares in the first quarter.
• Analysts have mixed views on CBRE Group's stock, with target price revisions including $170.00 from Morgan Stanley and $141.00 from JPMorgan, reflecting a consensus target price of $158.00.
• Insider selling activity included CAO Lindsey S. Caplan and CFO Emma E. Giamartino, who sold shares during recent transactions, decreasing their ownership by 5.30% and 1.84%, respectively.

US Bancorp DE cut its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,438 shares of the financial services provider's stock after selling 4,183 shares during the quarter. US Bancorp DE's holdings in CBRE Group were worth $11,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CBRE. Principal Financial Group Inc. boosted its holdings in CBRE Group by 4.8% in 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 acquiring an additional 368,214 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of CBRE Group by 217.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock worth $511,781,000 after purchasing an additional 2,680,337 shares during the last quarter. Northern Trust Corp raised its stake in shares of CBRE Group by 12.6% in the fourth quarter. Northern Trust Corp now owns 3,789,513 shares of the financial services provider's stock worth $497,525,000 after purchasing an additional 424,663 shares during the last quarter. Earnest Partners LLC raised its stake in shares of CBRE Group by 1.4% in the fourth quarter. Earnest Partners LLC now owns 3,696,955 shares of the financial services provider's stock worth $485,373,000 after purchasing an additional 49,862 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CBRE Group by 10.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,025,256 shares of the financial services provider's stock worth $397,186,000 after purchasing an additional 295,943 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction on Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the transaction, the chief financial officer directly owned 105,371 shares in the company, valued at approximately $13,603,396.10. This trade represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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. The trade was a 5.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,898 shares of company stock valued at $1,122,558 over the last three months. 0.42% of the stock is owned by corporate insiders.

CBRE Group Price Performance

Shares of NYSE CBRE traded up $0.45 during mid-day trading on Tuesday, reaching $156.48. The company's stock had a trading volume of 1,952,183 shares, compared to its average volume of 1,694,131. The firm has a market capitalization of $46.56 billion, a PE ratio of 43.83 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. The stock has a fifty day moving average of $138.19 and a two-hundred day moving average of $133.36. CBRE Group, Inc. has a 52 week low of $105.17 and a 52 week high of $161.03.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly 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 18.89% and a net margin of 2.86%. The company had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.50 billion. As a group, sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CBRE. JPMorgan Chase & Co. decreased their price target 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. Morgan Stanley reiterated an "overweight" rating and set a $170.00 price objective (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Keefe, Bruyette & Woods upped their price objective on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Evercore ISI upped their price objective on CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial upped their price objective on CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $158.00.

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.