Equitable Trust Co. Cuts Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Equitable Trust Co. reduced its holdings in CBRE Group, Inc. by 13.8%, selling 5,187 shares, leaving it with 32,327 shares valued at approximately $4.22 million.
• Other institutions, including Norges Bank and Artisan Partners, significantly increased their stakes in CBRE, with the company now having approximately 98.41% of its stock owned by institutional investors.
• CBRE reported quarterly earnings of $0.86 per share, exceeding the consensus estimate and showing a 12.3% year-over-year revenue increase to $8.91 billion.

Equitable Trust Co. trimmed its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,327 shares of the financial services provider's stock after selling 5,187 shares during the quarter. Equitable Trust Co.'s holdings in CBRE Group were worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CBRE. Norges Bank bought a new stake in shares of CBRE Group during the 4th quarter worth $514,609,000. Artisan Partners Limited Partnership raised its stake in shares of CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock worth $531,736,000 after purchasing an additional 3,011,566 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of CBRE Group by 217.4% during the 1st 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 period. GAMMA Investing LLC raised its stake in shares of CBRE Group by 20,889.0% during the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock worth $168,896,000 after purchasing an additional 1,285,300 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of CBRE Group by 8,046.9% during the 4th quarter. Bessemer Group Inc. now owns 1,140,315 shares of the financial services provider's stock worth $149,710,000 after purchasing an additional 1,126,318 shares during the period. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Lindsey S. Caplan sold 1,497 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total transaction of $209,580.00. Following the sale, the chief accounting officer directly owned 28,211 shares in the company, valued at $3,949,540. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Chad J. Doellinger sold 494 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $126.05, for a total value of $62,268.70. Following the transaction, the insider directly owned 27,945 shares of the company's stock, valued at $3,522,467.25. The trade was a 1.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,031 shares of company stock worth $814,080 over the last ninety days. Company insiders own 0.42% of the company's stock.

CBRE Group Trading Up 0.1%

Shares of CBRE opened at $144.77 on Friday. The business's 50-day moving average price is $134.15 and its 200-day moving average price is $132.12. CBRE Group, Inc. has a twelve month low of $103.05 and a twelve month high of $147.75. The stock has a market cap of $43.16 billion, a PE ratio of 44.27 and a beta of 1.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The firm had revenue of $8.91 billion for the quarter, compared to analysts' expectations of $8.73 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The company's revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating and set a $170.00 target price (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Evercore ISI boosted their price objective on CBRE Group from $143.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Raymond James Financial boosted their price objective on CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research note on Thursday. UBS Group boosted their price objective on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $156.11.

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.

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