State of Alaska Department of Revenue Trims Stake in CBRE Group, Inc. $CBRE

Key Points

• The State of Alaska Department of Revenue reduced its stake in CBRE Group, Inc. by 4.8%, owning 32,961 shares valued at $4,618,000 after selling 1,665 shares in the second quarter.
• Multiple institutional investors are adjusting their positions in CBRE, with notable increases from firms like Golden State Wealth Management LLC, which raised its holdings by 687.1%.
• Analysts are generally optimistic, with an average rating of "Moderate Buy" for CBRE Group and a consensus target price of $165.22, reflecting positive future expectations.

State of Alaska Department of Revenue reduced its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 4.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 32,961 shares of the financial services provider's stock after selling 1,665 shares during the period. State of Alaska Department of Revenue's holdings in CBRE Group were worth $4,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in shares of CBRE Group in the 1st quarter valued at about $256,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of CBRE Group by 21.5% in 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 purchased a new stake in shares of CBRE Group in the 1st quarter valued at about $1,101,000. Golden State Wealth Management LLC lifted its holdings in shares of CBRE Group by 687.1% in 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. lifted its holdings in shares of CBRE Group by 4.8% in 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.

Analyst Upgrades and Downgrades

CBRE has been the subject of several research reports. Raymond James Financial boosted their target price on CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on CBRE Group from $143.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Keefe, Bruyette & Woods boosted 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, July 24th. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, CBRE Group has an average rating of "Moderate Buy" and a consensus target price of $165.22.

CBRE Group Stock Performance

Shares of CBRE stock opened at $158.92 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average price is $158.75 and its 200 day moving average price is $139.35. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $167.56. The stock has a market capitalization of $47.29 billion, a PE ratio of 44.51 and a beta of 1.36.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results 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. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%.The company had revenue of $9.75 billion for the quarter, compared to analysts' expectations of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, equities research analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insiders Place Their Bets

In other CBRE Group news, CEO Vikramaditya Kohli sold 1,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 111,473 shares in the company, valued at approximately $17,267,167.70. The trade was a 0.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lindsey S. Caplan sold 1,494 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 26,717 shares in the company, valued at approximately $4,151,020.29. This represents a 5.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,494 shares of company stock worth $857,593. Company insiders own 0.42% of the company's stock.

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.

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