Skandinaviska Enskilda Banken AB publ Sells 8,704 Shares of CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Skandinaviska Enskilda Banken AB publishes reduced its stake in CBRE Group, Inc. by 12.2%, owning 62,426 shares worth approximately $8,164,000 after selling 8,704 shares in the 1st quarter.
• Analysts have increased their price targets for CBRE Group, with Morgan Stanley setting a target of $170.00 and Keefe, Bruyette & Woods adjusting theirs from $131.00 to $147.00.
• CBRE Group reported a quarterly revenue increase of 12.3% year-over-year, with $0.86 earnings per share, exceeding analysts' expectations of $0.81.

Skandinaviska Enskilda Banken AB publ cut its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 12.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,426 shares of the financial services provider's stock after selling 8,704 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in CBRE Group were worth $8,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Valeo Financial Advisors LLC grew its position in CBRE Group by 4.0% in the first quarter. Valeo Financial Advisors LLC now owns 2,217 shares of the financial services provider's stock valued at $290,000 after acquiring an additional 85 shares during the period. Beverly Hills Private Wealth LLC grew its position in CBRE Group by 1.9% in the first quarter. Beverly Hills Private Wealth LLC now owns 5,067 shares of the financial services provider's stock valued at $663,000 after acquiring an additional 93 shares during the period. Verdence Capital Advisors LLC grew its position in CBRE Group by 1.3% in the first quarter. Verdence Capital Advisors LLC now owns 8,133 shares of the financial services provider's stock valued at $1,064,000 after acquiring an additional 102 shares during the period. Legacy Advisors LLC grew its position in CBRE Group by 6.4% in the first quarter. Legacy Advisors LLC now owns 1,789 shares of the financial services provider's stock valued at $234,000 after acquiring an additional 108 shares during the period. Finally, Aaron Wealth Advisors LLC grew its position in CBRE Group by 5.1% in the first quarter. Aaron Wealth Advisors LLC now owns 2,244 shares of the financial services provider's stock valued at $293,000 after acquiring an additional 108 shares during the period. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Trading Up 2.1%

CBRE Group stock traded up $3.07 during trading hours on Friday, reaching $147.66. 1,202,183 shares of the company's stock traded hands, compared to its average volume of 1,212,087. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. CBRE Group, Inc. has a fifty-two week low of $105.17 and a fifty-two week high of $147.98. The firm has a market capitalization of $44.02 billion, a price-to-earnings ratio of 45.16 and a beta of 1.30. The firm's 50 day moving average is $134.47 and its 200-day moving average is $132.29.

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, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the prior year, the company posted $0.78 EPS. The company's revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CAO Lindsey S. Caplan sold 1,935 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction 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 represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the transaction, the chief financial officer owned 105,371 shares in the company, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,031 shares of company stock worth $814,080. Company insiders own 0.42% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on CBRE shares. Keefe, Bruyette & Woods upped their price target on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research report on Thursday. UBS Group increased their target price 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 target price on CBRE Group from $143.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. decreased their target price on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $156.11.

About CBRE Group

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.