CBRE Group, Inc. (NYSE:CBRE) Shares Sold by ING Groep NV

Key Points

• ING Groep NV reduced its stake in CBRE Group, Inc. by 37.7%, holding 37,742 shares valued at approximately $4.94 million after selling 22,876 shares.
• Analysts from banks, including JPMorgan Chase and Morgan Stanley, have adjusted target prices and ratings for CBRE Group, with the consensus price target now at $158.00.
• CBRE Group reported a quarterly earnings of $1.19 per share, surpassing analysts’ expectations, along with revenues of $9.75 billion during the period.

ING Groep NV trimmed its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 37.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,742 shares of the financial services provider's stock after selling 22,876 shares during the period. ING Groep NV's holdings in CBRE Group were worth $4,936,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CBRE. Investment Management Corp VA ADV purchased a new stake in shares of CBRE Group in the fourth quarter worth approximately $28,000. Hughes Financial Services LLC purchased a new stake in shares of CBRE Group in the first quarter worth approximately $28,000. Golden State Wealth Management LLC raised its holdings 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 worth $32,000 after buying an additional 213 shares during the period. Colonial Trust Co SC raised its holdings 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 worth $36,000 after buying an additional 180 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings 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 worth $37,000 after buying an additional 266 shares during the period. 98.41% of the stock is owned by institutional investors.

CBRE Group Trading Up 0.7%

CBRE traded up $1.14 during trading on Friday, hitting $155.50. 990,315 shares of the stock were exchanged, compared to its average volume of 1,746,201. The firm has a 50 day simple moving average of $140.69 and a 200 day simple moving average of $133.85. The firm has a market cap of $46.27 billion, a price-to-earnings ratio of 43.56 and a beta of 1.34. CBRE Group, Inc. has a 1 year low of $107.54 and a 1 year high of $161.03. 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 (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, equities analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Evercore ISI increased their price target on CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.00.

Insiders Place Their Bets

In other news, CAO Lindsey S. Caplan sold 1,935 shares of CBRE Group stock in a transaction on Tuesday, June 24th. The stock was 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. This trade represents a 8.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer owned 105,371 shares in the company, valued at $13,603,396.10. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,898 shares of company stock worth $1,122,558 over the last quarter. Company insiders own 0.42% of the company's stock.

CBRE Group 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.