Southpoint Capital Advisors LP Decreases Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Southpoint Capital Advisors LP lessened its position in CBRE Group, Inc. (NYSE:CBRE) by 36.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 510,000 shares of the financial services provider’s stock after selling 290,000 shares during the quarter. CBRE Group accounts for 1.5% of Southpoint Capital Advisors LP’s portfolio, making the stock its 28th largest position. Southpoint Capital Advisors LP owned about 0.17% of CBRE Group worth $63,485,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its stake in shares of CBRE Group by 4.7% during the third quarter. Lindbrook Capital LLC now owns 1,750 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 79 shares during the period. Stephens Inc. AR increased its position in shares of CBRE Group by 3.1% during the third quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 80 shares during the period. Fidelis Capital Partners LLC raised its stake in shares of CBRE Group by 2.1% during the third quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 82 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of CBRE Group by 1.2% during the third quarter. Private Advisor Group LLC now owns 7,688 shares of the financial services provider’s stock valued at $957,000 after acquiring an additional 90 shares in the last quarter. Finally, Community Bank & Trust Waco Texas grew its stake in CBRE Group by 0.6% in the third quarter. Community Bank & Trust Waco Texas now owns 15,280 shares of the financial services provider’s stock worth $1,902,000 after purchasing an additional 93 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $139.99 on Friday. The firm has a market capitalization of $42.84 billion, a P/E ratio of 45.01 and a beta of 1.39. CBRE Group, Inc. has a 52 week low of $78.18 and a 52 week high of $142.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $128.80 and a 200 day moving average price of $110.31.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts expect that CBRE Group, Inc. will post 4.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Citigroup upped their price target on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Evercore ISI lifted their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insiders Place Their Bets

In other news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

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.