Charles Schwab Investment Management Inc. Lowers Holdings in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in CBRE Group, Inc. by 0.6%, holding 1,906,374 shares worth approximately $249 million after selling 11,025 shares during the first quarter.
• Various institutional investors increased their positions in CBRE Group, with a total 98.41% of the stock owned by these investors as of the latest filings.
• CBRE Group reported a quarterly earnings per share of $1.19, surpassing analyst expectations, and has seen several analysts adjust price targets upward, with a consensus target of $158.00.

Charles Schwab Investment Management Inc. decreased its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,906,374 shares of the financial services provider's stock after selling 11,025 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.64% of CBRE Group worth $249,316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBRE. Investment Management Corp VA ADV bought a new stake in shares of CBRE Group during the 4th quarter worth approximately $28,000. Hughes Financial Services LLC bought a new stake in shares of CBRE Group during the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC raised its position in CBRE Group by 687.1% during the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 213 shares in the last quarter. Colonial Trust Co SC raised its position in CBRE Group by 183.7% during the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 180 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in CBRE Group by 1,400.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.

Insider Buying and Selling at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,972 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the transaction, the chief financial officer directly 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 SEC, which is available at this link. Also, CAO Lindsey S. Caplan sold 1,935 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total value of $270,900.00. Following the transaction, the chief accounting officer directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,898 shares of company stock worth $1,122,558. 0.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CBRE has been the subject of a number of research analyst reports. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group lifted their target price on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Evercore ISI lifted their target price on CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial lifted their target price on CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 target price (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.00.

CBRE Group Stock Up 1.7%

Shares of NYSE:CBRE traded up $2.58 on Tuesday, reaching $156.07. The company had a trading volume of 1,079,894 shares, compared to its average volume of 1,830,551. CBRE Group, Inc. has a 52-week low of $107.86 and a 52-week high of $161.03. The firm's 50 day simple moving average is $141.27 and its 200-day simple moving average is $133.89. The firm has a market capitalization of $46.44 billion, a PE ratio of 43.72 and a beta of 1.34. The company has a current ratio of 1.13, a quick 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 (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 business had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. As a group, analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

About CBRE Group

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.