Ossiam reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) by 45.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,212 shares of the financial services provider’s stock after selling 70,376 shares during the period. Ossiam’s holdings in CBRE Group were worth $6,059,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP purchased a new stake in shares of CBRE Group in the 1st quarter worth about $200,000. Veritable L.P. boosted its position in shares of CBRE Group by 2.4% in the 1st quarter. Veritable L.P. now owns 10,578 shares of the financial services provider’s stock worth $770,000 after buying an additional 250 shares in the last quarter. Bowie Capital Management LLC purchased a new stake in shares of CBRE Group in the 1st quarter worth about $6,116,000. Wetherby Asset Management Inc. boosted its position in shares of CBRE Group by 1.2% in the 1st quarter. Wetherby Asset Management Inc. now owns 26,052 shares of the financial services provider’s stock worth $1,897,000 after buying an additional 312 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of CBRE Group by 6.6% in the 1st quarter. State of Tennessee Treasury Department now owns 410,060 shares of the financial services provider’s stock worth $29,856,000 after buying an additional 25,345 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Raymond James decreased their price objective on shares of CBRE Group from $102.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Friday, July 28th. Evercore ISI cut their target price on shares of CBRE Group from $85.00 to $84.00 in a research note on Friday, June 23rd. Finally, StockNews.com initiated coverage on shares of CBRE Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.14.
CBRE Group Stock Up 0.3 %
NYSE CBRE opened at $85.24 on Friday. The stock has a market cap of $26.41 billion, a PE ratio of 32.29 and a beta of 1.36. CBRE Group, Inc. has a fifty-two week low of $66.31 and a fifty-two week high of $89.58. The business has a 50 day moving average price of $84.59 and a two-hundred day moving average price of $78.84. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23.
CBRE Group (NYSE:CBRE – Get Free Report) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.30 billion. CBRE Group had a return on equity of 15.42% and a net margin of 2.74%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 EPS. As a group, sell-side analysts predict that CBRE Group, Inc. will post 4.39 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CAO Lindsey S. Caplan sold 1,305 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $83.08, for a total transaction of $108,419.40. Following the transaction, the chief accounting officer now directly owns 17,215 shares in the company, valued at $1,430,222.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CBRE Group news, Director Brandon B. Boze sold 3,400,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $80.80, for a total value of $274,720,000.00. Following the sale, the director now directly owns 5,837,748 shares of the company’s stock, valued at $471,690,038.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,305 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $83.08, for a total value of $108,419.40. Following the transaction, the chief accounting officer now directly owns 17,215 shares in the company, valued at $1,430,222.20. The disclosure for this sale can be found here. Insiders have sold 4,607,856 shares of company stock worth $376,671,359 over the last ninety days. 0.53% of the stock is owned by insiders.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, accounting, and financial services 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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