OMERS ADMINISTRATION Corp Reduces Stake in CBRE Group, Inc. $CBRE

Key Points

• OMERS Administration Corp cut its CBRE Group stake by 82.2% in the first quarter, selling 549,326 shares and ending with 118,681 shares worth about $16.1 million.
• CBRE remains heavily owned by institutions, with 98.41% of the stock held by institutional investors; other funds also adjusted positions, including some notable additions and new stakes.
• Analysts are generally bullish on CBRE: the stock has an average rating of “Moderate Buy” with an average price target of $178.86, while the company also posted better-than-expected Q1 earnings and revenue growth of 18.1% year over year.

OMERS ADMINISTRATION Corp lessened its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 82.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,681 shares of the financial services provider's stock after selling 549,326 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in CBRE Group were worth $16,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. grew its position in shares of CBRE Group by 5.7% during the 1st quarter. QRG Capital Management Inc. now owns 135,635 shares of the financial services provider's stock valued at $18,373,000 after purchasing an additional 7,349 shares in the last quarter. Flputnam Investment Management Co. raised its position in shares of CBRE Group by 39.5% in the fourth quarter. Flputnam Investment Management Co. now owns 137,524 shares of the financial services provider's stock worth $22,112,000 after buying an additional 38,944 shares in the last quarter. Abacus Wealth Partners LLC purchased a new stake in shares of CBRE Group in the fourth quarter worth $2,147,000. Norges Bank bought a new stake in CBRE Group during the fourth quarter valued at $643,405,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in CBRE Group by 5,115.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,017,355 shares of the financial services provider's stock valued at $163,581,000 after buying an additional 997,848 shares during the period. 98.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday. Keefe, Bruyette & Woods lifted their price target on CBRE Group from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Jefferies Financial Group reissued a "buy" rating on shares of CBRE Group in a report on Friday, May 15th. Evercore set a $169.00 price objective on shares of CBRE Group in a research report on Tuesday, June 30th. Finally, Barclays raised their target price on shares of CBRE Group from $175.00 to $178.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, CBRE Group has an average rating of "Moderate Buy" and an average price target of $178.86.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $130.74, for a total transaction of $294,165.00. Following the transaction, the chief financial officer directly owned 110,729 shares of the company's stock, valued at approximately $14,476,709.46. This trade represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.46% of the company's stock.

CBRE Group Trading Up 2.9%

NYSE CBRE opened at $139.50 on Friday. The stock's 50-day simple moving average is $134.36 and its two-hundred day simple moving average is $143.99. CBRE Group, Inc. has a twelve month low of $121.69 and a twelve month high of $174.27. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $40.85 billion, a price-to-earnings ratio of 31.78 and a beta of 1.20.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.48. The firm had revenue of $10.53 billion during the quarter, compared to analyst estimates of $10.22 billion. CBRE Group had a return on equity of 24.08% and a net margin of 3.11%.The company's revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. Research analysts forecast that CBRE Group, Inc. will post 7.75 EPS for the current fiscal year.

CBRE Group Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.