Westpac Banking Corp Sells 3,781 Shares of CBRE Group, Inc. (NYSE:CBRE)

Key Points

• Westpac Banking Corp decreased its holdings in CBRE Group by 10.2%, selling 3,781 shares and retaining a total of 33,137 shares valued at $4,334,000.
• Several institutional investors are adjusting their stakes, with notable increases including a 687.1% rise from Golden State Wealth Management LLC and 1,400.0% from Thurston Springer Miller Herd & Titak Inc.
• CBRE Group reported a quarterly earnings of $1.19 per share, exceeding analyst expectations, alongside revenues of $9.75 billion, surpassing estimates of $9.50 billion.

Westpac Banking Corp reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,137 shares of the financial services provider's stock after selling 3,781 shares during the quarter. Westpac Banking Corp's holdings in CBRE Group were worth $4,334,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC raised its holdings in shares of CBRE Group by 4.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 2,217 shares of the financial services provider's stock worth $290,000 after acquiring an additional 85 shares in the last quarter. Beverly Hills Private Wealth LLC raised its holdings in shares of CBRE Group by 1.9% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,067 shares of the financial services provider's stock worth $663,000 after acquiring an additional 93 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of CBRE Group by 1.3% during the 1st quarter. Verdence Capital Advisors LLC now owns 8,133 shares of the financial services provider's stock worth $1,064,000 after acquiring an additional 102 shares in the last quarter. Legacy Advisors LLC raised its holdings in shares of CBRE Group by 6.4% during the 1st quarter. Legacy Advisors LLC now owns 1,789 shares of the financial services provider's stock worth $234,000 after acquiring an additional 108 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of CBRE Group by 5.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 2,244 shares of the financial services provider's stock worth $293,000 after acquiring an additional 108 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CBRE Group

In other news, CAO Lindsey S. Caplan sold 1,935 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total transaction of $270,900.00. Following the transaction, the chief accounting officer owned 20,131 shares of the company's stock, valued at approximately $2,818,340. This represents a 8.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vikramaditya Kohli sold 1,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $154.90, for a total value of $154,900.00. Following the transaction, the chief executive officer directly owned 111,473 shares in the company, valued at $17,267,167.70. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,898 shares of company stock valued at $1,277,458 in the last quarter. 0.42% of the stock is owned by insiders.

CBRE Group Trading Up 2.3%

CBRE Group stock traded up $3.57 during mid-day trading on Wednesday, hitting $159.69. The company's stock had a trading volume of 1,703,299 shares, compared to its average volume of 1,731,039. The company has a 50 day moving average of $142.54 and a 200-day moving average of $134.22. The stock has a market cap of $47.52 billion, a PE ratio of 44.73 and a beta of 1.34. 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, Inc. has a one year low of $108.45 and a one year high of $161.03.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. On average, research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. UBS Group increased their price target on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods increased 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. Raymond James Financial increased 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.00.

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.