State of New Jersey Common Pension Fund D Cuts Stake in CBRE Group, Inc. $CBRE

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in CBRE Group, Inc. by 7.3%, selling 8,102 shares and ending the first quarter with 102,622 shares valued at approximately $13.4 million.
• Insider transactions included CEO Vikramaditya Kohli selling 1,000 shares for about $154,900, reducing his ownership by 0.89%, while the total insider sales over the last three months amounted to $1.59 million.
• CBRE Group reported a strong quarterly performance with $1.19 earnings per share, surpassing analyst expectations, and had a market capitalization of $47.30 billion.

State of New Jersey Common Pension Fund D trimmed its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 7.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 102,622 shares of the financial services provider's stock after selling 8,102 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in CBRE Group were worth $13,421,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in CBRE Group by 217.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock worth $511,781,000 after purchasing an additional 2,680,337 shares during the last quarter. Nuveen LLC purchased a new position in shares of CBRE Group in the first quarter worth about $214,283,000. GAMMA Investing LLC lifted its stake in shares of CBRE Group by 20,889.0% in the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock valued at $168,896,000 after acquiring an additional 1,285,300 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of CBRE Group by 85.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,147,783 shares of the financial services provider's stock valued at $281,984,000 after acquiring an additional 991,354 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in CBRE Group by 212.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider's stock valued at $142,633,000 after acquiring an additional 741,477 shares during the period. Hedge funds and other institutional investors own 98.41% of the company's stock.

CBRE Group Trading Up 0.5%

Shares of NYSE CBRE traded up $0.8530 during midday trading on Wednesday, hitting $160.8330. 1,523,496 shares of the company traded hands, compared to its average volume of 1,811,914. CBRE Group, Inc. has a 12-month low of $108.45 and a 12-month high of $161.81. The firm has a market cap of $47.86 billion, a P/E ratio of 45.05 and a beta of 1.34. The stock has a 50-day moving average price of $144.88 and a 200 day moving average price of $134.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share for the quarter, beating 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 business 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, analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CBRE shares. Raymond James Financial lifted their target price on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. UBS Group increased their target price on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, 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 report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $158.00.

Insider Activity

In related news, CEO Vikramaditya Kohli sold 1,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $154.90, for a total transaction of $154,900.00. Following the sale, the chief executive officer owned 111,473 shares of the company's stock, valued at $17,267,167.70. The trade was a 0.89% 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 2,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total transaction of $315,200.00. Following the completion of the sale, the chief financial officer owned 103,371 shares in the company, valued at approximately $16,291,269.60. This trade represents a 1.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,926 shares of company stock worth $1,338,073. Corporate insiders own 0.42% of the company's stock.

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.