Corebridge Financial Inc. Sells 4,302 Shares of CBRE Group, Inc. $CBRE

Key Points

• Corebridge Financial Inc. reduced its stake in CBRE Group, owning 74,440 shares after selling 4,302 shares, representing a 5.5% decrease, valued at approximately $9.73 million.
• CBRE Group reported a quarterly EPS of $1.19, exceeding expectations of $1.05, with revenues of $9.75 billion, surpassing forecasts of $9.50 billion.
• Several analysts upgraded CBRE Group's stock ratings and increased price targets, with an average target price now set at $165.22.

Corebridge Financial Inc. decreased its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,440 shares of the financial services provider's stock after selling 4,302 shares during the period. Corebridge Financial Inc.'s holdings in CBRE Group were worth $9,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Virtus Advisers LLC acquired a new stake in shares of CBRE Group in the first quarter valued at about $267,000. Synovus Financial Corp increased its stake in shares of CBRE Group by 5.8% in the first quarter. Synovus Financial Corp now owns 13,164 shares of the financial services provider's stock valued at $1,722,000 after buying an additional 721 shares during the period. Walleye Capital LLC increased its stake in shares of CBRE Group by 53.2% in the first quarter. Walleye Capital LLC now owns 3,167 shares of the financial services provider's stock valued at $414,000 after buying an additional 1,100 shares during the period. ICONIQ Capital LLC increased its stake in shares of CBRE Group by 23.2% in the first quarter. ICONIQ Capital LLC now owns 2,519 shares of the financial services provider's stock valued at $329,000 after buying an additional 474 shares during the period. Finally, Jump Financial LLC acquired a new stake in CBRE Group during the first quarter worth approximately $728,000. Institutional investors and hedge funds own 98.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CBRE shares. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Raymond James Financial lifted their target price on CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on CBRE Group from $143.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. UBS Group lifted their target price on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $170.00 target price (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, CBRE Group currently has an average rating of "Moderate Buy" and an average price target of $165.22.

CBRE Group Stock Down 0.0%

CBRE Group stock traded down $0.01 during mid-day trading on Monday, reaching $161.98. The stock had a trading volume of 1,399,012 shares, compared to its average volume of 1,518,471. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $165.41. The stock's 50-day simple moving average is $149.51 and its 200-day simple moving average is $135.58. The firm has a market capitalization of $48.20 billion, a PE ratio of 45.37 and a beta of 1.36.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data 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 firm 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, sell-side analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total transaction of $315,200.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lindsey S. Caplan sold 1,935 shares of CBRE Group stock in a transaction that occurred on 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 approximately $2,818,340. The trade was a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,926 shares of company stock valued at $1,338,073 over the last 90 days. Insiders own 0.42% of the company's stock.

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.