Comerica Bank Sells 12,945 Shares of CBRE Group, Inc. $CBRE

Key Points

• Comerica Bank reduced its stake in CBRE Group by 13.8%, selling 12,945 shares during the first quarter, leaving it with a total of 80,700 shares valued at approximately $10.5 million.
• Several large investors, including Principal Financial Group and JPMorgan Chase, have increased their holdings in CBRE Group, reflecting strong institutional interest in the company's stock.
• Analysts have raised their price targets for CBRE Group, with recommendations indicating a consensus rating of "Moderate Buy" and an average target price of approximately $165.22.

Comerica Bank reduced its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 13.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,700 shares of the financial services provider's stock after selling 12,945 shares during the quarter. Comerica Bank's holdings in CBRE Group were worth $10,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CBRE. Investment Management Corp VA ADV purchased a new stake in CBRE Group in the fourth quarter worth $28,000. Hughes Financial Services LLC purchased a new position in shares of CBRE Group in the first quarter valued at $28,000. Golden State Wealth Management LLC grew its position in shares of CBRE Group by 687.1% in the first 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 grew its position in shares of CBRE Group by 183.7% in the fourth 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. grew its position in shares of CBRE Group by 1,400.0% in the first 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. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Price Performance

CBRE Group stock traded down $0.01 during midday trading on Monday, hitting $161.98. 1,399,012 shares of the company's stock were exchanged, compared to its average volume of 1,518,471. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $165.41. The stock has a 50-day moving average price of $149.51 and a two-hundred day moving average price of $135.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $48.20 billion, a P/E ratio of 45.37 and a beta of 1.36.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its 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. 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 during 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 research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total transaction of $315,200.00. Following the completion of the sale, the chief financial officer owned 103,371 shares of the company's stock, valued at $16,291,269.60. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vikramaditya Kohli sold 1,000 shares of CBRE Group stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $154.90, for a total value of $154,900.00. Following the sale, the chief executive officer directly owned 111,473 shares of the company's stock, valued at approximately $17,267,167.70. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,926 shares of company stock worth $1,338,073 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CBRE has been the subject of several recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Raymond James Financial lifted their price target on 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. lifted their price target on CBRE Group from $143.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, Evercore ISI lifted their price target on CBRE Group from $164.00 to $185.00 and gave the company an "outperform" rating in a research report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.22.

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.