CBRE Group, Inc. $CBRE Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in CBRE Group, Inc. by 18.6%, holding 32,229 shares valued at approximately $4.22 million.
• Major institutional investors have increased their holdings in CBRE Group, with Principal Financial Group Inc. acquiring 368,214 additional shares, bringing its total to approximately $1.04 billion.
• Analysts have raised price targets for CBRE shares, with Evercore ISI increasing theirs from $164 to $185, reflecting increasing confidence in the company's performance.

Rafferty Asset Management LLC reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 18.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,229 shares of the financial services provider's stock after selling 7,352 shares during the period. Rafferty Asset Management LLC's holdings in CBRE Group were worth $4,215,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in CBRE Group in the 1st quarter worth approximately $256,000. Cambridge Investment Research Advisors Inc. increased its position in shares of CBRE Group by 21.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider's stock valued at $968,000 after purchasing an additional 1,310 shares during the last quarter. USA Financial Formulas bought a new position in shares of CBRE Group during the 1st quarter valued at approximately $1,101,000. Golden State Wealth Management LLC increased its position in shares of CBRE Group by 687.1% during the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 213 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock valued at $1,042,317,000 after purchasing an additional 368,214 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Down 0.0%

NYSE:CBRE traded down $0.01 during trading hours on Friday, reaching $161.98. The company's stock had a trading volume of 1,399,012 shares, compared to its average volume of 1,518,471. The company has a market capitalization of $48.20 billion, a P/E ratio of 45.37 and a beta of 1.36. CBRE Group, Inc. has a 12 month low of $108.45 and a 12 month high of $165.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day moving average price of $149.51 and a two-hundred day moving average price of $135.58.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. The firm had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. Equities analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CBRE. JPMorgan Chase & Co. upped their price objective on CBRE Group from $143.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. UBS Group upped their price objective on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price objective (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Keefe, Bruyette & Woods upped their price objective on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, CBRE Group currently has an average rating of "Moderate Buy" and a consensus price target of $165.22.

Insider Buying and Selling

In related news, CEO Vikramaditya Kohli sold 1,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $154.90, for a total transaction of $154,900.00. Following the completion of the sale, the chief executive officer directly owned 111,473 shares in the company, valued at $17,267,167.70. This represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total value of $315,200.00. Following the sale, the chief financial officer owned 103,371 shares of the company's stock, valued at $16,291,269.60. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,926 shares of company stock worth $1,338,073 in the last three months. 0.42% of the stock is owned by insiders.

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.