New York State Teachers Retirement System decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304,284 shares of the financial services provider's stock after selling 18,707 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of CBRE Group worth $39,794,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CBRE. Brighton Jones LLC grew its position in CBRE Group by 322.9% during the 4th quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider's stock worth $1,903,000 after acquiring an additional 11,065 shares during the last quarter. IFP Advisors Inc increased its stake in CBRE Group by 9.1% during the 4th quarter. IFP Advisors Inc now owns 1,203 shares of the financial services provider's stock valued at $158,000 after purchasing an additional 100 shares in the last quarter. Private Trust Co. NA boosted its stake in CBRE Group by 58.5% during the 4th quarter. Private Trust Co. NA now owns 1,087 shares of the financial services provider's stock valued at $143,000 after purchasing an additional 401 shares during the last quarter. SVB Wealth LLC purchased a new stake in CBRE Group in the 4th quarter valued at $944,000. Finally, Fisher Asset Management LLC grew its position in CBRE Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 44,916 shares of the financial services provider's stock worth $5,897,000 after purchasing an additional 163 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. UBS Group lowered their target price on CBRE Group from $146.00 to $130.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $129.00 to $131.00 and gave the stock a "market perform" rating in a report on Wednesday, April 30th. Morgan Stanley reiterated an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Finally, Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $150.33.
Check Out Our Latest Report on CBRE
CBRE Group Stock Performance
Shares of CBRE traded down $0.08 on Wednesday, reaching $141.54. The company's stock had a trading volume of 179,389 shares, compared to its average volume of 1,805,598. The stock's 50 day simple moving average is $128.76 and its two-hundred day simple moving average is $130.96. The stock has a market capitalization of $42.19 billion, a P/E ratio of 43.27 and a beta of 1.30. CBRE Group, Inc. has a 12-month low of $85.74 and a 12-month high of $147.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00.
CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. The company had revenue of $8.91 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the firm posted $0.78 EPS. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.
Insider Buying and Selling at CBRE Group
In other CBRE Group news, insider Chad J. Doellinger sold 494 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total transaction of $62,268.70. Following the transaction, the insider owned 27,945 shares in the company, valued at $3,522,467.25. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Emma E. Giamartino sold 1,972 shares of CBRE Group stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the sale, the chief financial officer directly owned 105,371 shares of the company's stock, 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 6,031 shares of company stock valued at $814,080 in the last 90 days. Insiders own 0.42% of the company's stock.
About CBRE Group
(
Free Report)
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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