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Swiss National Bank Lowers Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

CBRE Group logo with Finance background

Key Points

  • The Swiss National Bank reduced its stake in CBRE Group, Inc. by 0.3%, now holding approximately 863,100 shares worth $112.87 million.
  • CBRE Group's stock has recently received positive outlooks from multiple analysts, with UBS increasing its price target from $130 to $146 and several others assigning ratings of "buy" or "outperform."
  • For the most recent quarter, CBRE reported EPS of $1.19, surpassing estimates, and generated revenue of $9.75 billion, exceeding analyst expectations of $9.5 billion.
  • Need Better Tools to Track CBRE Group? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Swiss National Bank decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 0.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 863,100 shares of the financial services provider's stock after selling 2,600 shares during the period. Swiss National Bank owned approximately 0.29% of CBRE Group worth $112,876,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in shares of CBRE Group in the fourth quarter worth about $28,000. Hughes Financial Services LLC purchased a new position in shares of CBRE Group in the first quarter worth about $28,000. Golden State Wealth Management LLC increased its holdings in shares of CBRE Group by 687.1% in the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after buying an additional 213 shares during the period. Colonial Trust Co SC increased its holdings in shares of CBRE Group by 183.7% in the fourth quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock worth $36,000 after buying an additional 180 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of CBRE Group by 1,400.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 285 shares of the financial services provider's stock worth $37,000 after buying an additional 266 shares during the period. Hedge funds and other institutional investors own 98.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group lifted their price objective on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Raymond James Financial boosted their price target on CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Evercore ISI boosted their price target on CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.00.

Read Our Latest Analysis on CBRE Group

CBRE Group Stock Performance

CBRE Group stock opened at $155.50 on Friday. 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's 50 day simple moving average is $140.69 and its two-hundred day simple moving average is $133.85. CBRE Group, Inc. has a fifty-two week low of $107.54 and a fifty-two week high of $161.03. The stock has a market cap of $46.27 billion, a price-to-earnings ratio of 43.56 and a beta of 1.34.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. The firm had revenue of $9.75 billion for the quarter, compared to analysts' expectations of $9.50 billion. As a group, analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Lindsey S. Caplan sold 1,494 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total value of $232,122.78. Following the completion of the transaction, the chief accounting officer directly owned 26,717 shares in the company, valued at $4,151,020.29. The trade was a 5.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the transaction, the chief financial officer owned 105,371 shares of the company's stock, 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. Over the last three months, insiders sold 7,898 shares of company stock worth $1,122,558. Insiders own 0.42% of the company's stock.

About CBRE Group

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBRE - Free Report).

Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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