Nissay Asset Management Corp Japan ADV reduced its holdings in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) by 77.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,865 shares of the financial services provider’s stock after selling 804,090 shares during the quarter. Nissay Asset Management Corp Japan ADV owned 0.08% of CBRE Group worth $17,173,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. CVA Family Office LLC raised its position in shares of CBRE Group by 80.0% during the 1st quarter. CVA Family Office LLC now owns 405 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 180 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of CBRE Group by 60.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 160 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of CBRE Group by 213.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 552 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 376 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of CBRE Group during the 1st quarter valued at approximately $44,000. Finally, Clear Street Markets LLC raised its position in shares of CBRE Group by 94.0% during the 1st quarter. Clear Street Markets LLC now owns 619 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on CBRE. Raymond James dropped their price target on 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. StockNews.com assumed coverage on CBRE Group in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Evercore ISI dropped their target price on CBRE Group from $85.00 to $84.00 in a research report on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and a consensus target price of $88.14.
CBRE Group Price Performance
Shares of NYSE CBRE opened at $85.24 on Monday. CBRE Group, Inc. has a 1-year low of $66.31 and a 1-year high of $89.58. The firm has a market capitalization of $26.41 billion, a PE ratio of 32.29 and a beta of 1.36. The business’s fifty day moving average price is $84.59 and its two-hundred day moving average price is $78.79. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16.
CBRE Group (NYSE:CBRE – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. CBRE Group had a return on equity of 15.42% and a net margin of 2.74%. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.30 billion. During the same quarter in the prior year, the business posted $1.83 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, research analysts expect that CBRE Group, Inc. will post 4.39 EPS for the current year.
Insider Transactions at CBRE Group
In other news, Director Brandon B. Boze sold 1,200,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $84.41, for a total value of $101,292,000.00. Following the completion of the transaction, the director now owns 4,637,748 shares of the company’s stock, valued at $391,472,308.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Brandon B. Boze sold 3,400,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $80.80, for a total transaction of $274,720,000.00. Following the completion of the transaction, the director now owns 5,837,748 shares in the company, valued at approximately $471,690,038.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brandon B. Boze sold 1,200,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $84.41, for a total transaction of $101,292,000.00. Following the completion of the transaction, the director now directly owns 4,637,748 shares in the company, valued at approximately $391,472,308.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,607,856 shares of company stock valued at $376,671,359. 0.53% of the stock is currently owned by corporate 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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