Teacher Retirement System of Texas lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 50.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 323,585 shares of the financial services provider's stock after selling 332,844 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of CBRE Group worth $42,318,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of CBRE Group by 322.9% in the fourth quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider's stock valued at $1,903,000 after buying an additional 11,065 shares in the last quarter. Jones Financial Companies Lllp grew its position in CBRE Group by 73.8% in the 4th quarter. Jones Financial Companies Lllp now owns 4,610 shares of the financial services provider's stock valued at $605,000 after acquiring an additional 1,957 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in CBRE Group in the 4th quarter valued at about $25,000. Schechter Investment Advisors LLC increased its stake in CBRE Group by 9.1% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,913 shares of the financial services provider's stock worth $382,000 after purchasing an additional 242 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CBRE Group by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,917,399 shares of the financial services provider's stock worth $251,735,000 after purchasing an additional 40,675 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company's stock.
Analysts Set New Price Targets
CBRE has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th. Wall Street Zen downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. UBS Group increased their price objective on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday. Morgan Stanley reissued an "overweight" rating and set a $170.00 target price (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. reduced their price target on CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $152.11.
Read Our Latest Stock Report on CBRE Group
CBRE Group Stock Down 0.0%
Shares of NYSE CBRE opened at $142.45 on Friday. The business has a 50-day moving average of $129.57 and a two-hundred day moving average of $131.07. The company has a market capitalization of $42.47 billion, a price-to-earnings ratio of 43.56 and a beta of 1.30. CBRE Group, Inc. has a 1 year low of $86.19 and a 1 year high of $147.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00.
CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $8.91 billion during the quarter, compared to analysts' expectations of $8.73 billion. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The firm's revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.
Insider Transactions at CBRE Group
In related news, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the transaction, the chief financial officer directly owned 105,371 shares of the company's stock, valued at $13,603,396.10. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lindsey S. Caplan sold 1,497 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $209,580.00. Following the completion of the sale, the chief accounting officer directly owned 28,211 shares of the company's stock, valued at approximately $3,949,540. This trade represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,031 shares of company stock worth $814,080. 0.42% of the stock is currently owned by insiders.
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.
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