Truist Financial Corp Decreases Holdings in CBRE Group, Inc. $CBRE

Key Points

• Truist Financial Corp reduced its holdings in CBRE Group by 1.7% in the second quarter, resulting in ownership of 114,678 shares valued at approximately $16 million.
• Multiple large institutional investors have recently increased their stakes in CBRE Group, with Massachusetts Financial Services boosting their position by an impressive 217.4%.
• Wall Street analysts have a positive outlook on CBRE Group, with a consensus target price of $165.22 and eight analysts rating the stock as a buy.

Truist Financial Corp cut its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,678 shares of the financial services provider's stock after selling 2,001 shares during the period. Truist Financial Corp's holdings in CBRE Group were worth $16,069,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position 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 bought a new position in shares of CBRE Group in the 1st quarter worth approximately $214,283,000. Assenagon Asset Management S.A. lifted its stake in shares of CBRE Group by 212.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider's stock worth $142,633,000 after purchasing an additional 741,477 shares during the period. JPMorgan Chase & Co. increased its holdings in CBRE Group by 24.7% during the first quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider's stock valued at $487,127,000 after buying an additional 738,704 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in CBRE Group by 6.6% during the first quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock valued at $837,938,000 after buying an additional 397,818 shares during the last quarter. Institutional investors own 98.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CBRE shares. Raymond James Financial boosted their price objective on shares of CBRE Group from $163.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a "buy (b-)" rating on shares of CBRE Group in a research report on Saturday, September 27th. Evercore ISI raised their price objective on CBRE Group from $164.00 to $185.00 and gave the stock an "outperform" rating in a research note on Monday, August 25th. UBS Group raised their price objective on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, CBRE Group currently has an average rating of "Moderate Buy" and a consensus target price of $165.22.

Insider Buying and Selling at CBRE Group

In other news, CAO Lindsey S. Caplan sold 1,494 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total transaction of $232,122.78. Following the completion of the transaction, the chief accounting officer owned 26,717 shares in the company, valued at $4,151,020.29. This trade represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vikramaditya Kohli sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $154.90, for a total value of $154,900.00. Following the transaction, the chief executive officer owned 111,473 shares of the company's stock, valued at $17,267,167.70. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,494 shares of company stock worth $857,593. Insiders own 0.42% of the company's stock.

CBRE Group Trading Up 0.3%

CBRE stock opened at $156.12 on Friday. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $167.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $46.45 billion, a price-to-earnings ratio of 43.73 and a beta of 1.36. The business has a 50 day simple moving average of $159.66 and a two-hundred day simple moving average of $139.99.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The firm had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. Research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

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.

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