CBRE Group, Inc. (NYSE:CBRE) Position Trimmed by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System has reduced its holdings in CBRE Group, Inc. by 12.5%, resulting in ownership of just 14,299 shares valued at approximately $1.87 million.
• Several large investors, including Golden State Wealth Management and Thurston Springer Miller Herd & Titak Inc., have significantly increased their stakes in CBRE Group recently, indicating strong market interest.
• CBRE Group reported earnings of $1.19 EPS for the last quarter, surpassing analysts' estimates, and has received multiple analyst upgrades with a current average rating of "Moderate Buy."

Maryland State Retirement & Pension System trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 12.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,299 shares of the financial services provider's stock after selling 2,034 shares during the quarter. Maryland State Retirement & Pension System's holdings in CBRE Group were worth $1,870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of CBRE Group during the fourth quarter worth about $28,000. Hughes Financial Services LLC bought a new stake in CBRE Group in the first quarter valued at about $28,000. Golden State Wealth Management LLC increased its holdings in 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 buying an additional 213 shares during the last quarter. Colonial Trust Co SC increased its holdings in 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 buying an additional 180 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in 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 buying an additional 266 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CBRE shares. Evercore ISI boosted their price objective on CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. 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 note on Thursday, July 24th. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, 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 note on Wednesday, July 2nd. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.00.

Insider Buying and Selling

In other CBRE Group news, CAO Lindsey S. Caplan sold 1,494 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total value of $232,122.78. Following the transaction, the chief accounting officer owned 26,717 shares of the company's stock, valued at approximately $4,151,020.29. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the company's 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 directly owned 105,371 shares in the company, valued at $13,603,396.10. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,898 shares of company stock valued at $1,122,558 over the last 90 days. 0.42% of the stock is currently owned by insiders.

CBRE Group Stock Performance

Shares of NYSE CBRE traded down $1.97 during midday trading on Monday, hitting $153.43. 1,422,190 shares of the company's stock were exchanged, compared to its average volume of 1,743,266. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13. The stock's 50 day moving average price is $141.27 and its 200-day moving average price is $133.89. The firm has a market cap of $45.65 billion, a P/E ratio of 27.90 and a beta of 1.34. CBRE Group, Inc. has a twelve month low of $107.54 and a twelve month high of $161.03.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. Equities research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

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.