CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in CBRE Group, Inc. (NYSE:CBRE) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,711 shares of the financial services provider’s stock after selling 820 shares during the period. Retirement Systems of Alabama’s holdings in CBRE Group were worth $8,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Synovus Financial Corp boosted its position in CBRE Group by 2.9% during the 3rd quarter. Synovus Financial Corp now owns 11,544 shares of the financial services provider’s stock valued at $1,437,000 after purchasing an additional 330 shares during the period. Tidal Investments LLC lifted its stake in CBRE Group by 97.4% in the third quarter. Tidal Investments LLC now owns 10,290 shares of the financial services provider’s stock valued at $1,281,000 after buying an additional 5,077 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CBRE Group during the third quarter valued at $2,330,000. World Investment Advisors LLC bought a new position in shares of CBRE Group during the third quarter worth about $285,000. Finally, TCW Group Inc. increased its holdings in shares of CBRE Group by 111.7% in the 3rd quarter. TCW Group Inc. now owns 85,188 shares of the financial services provider’s stock worth $10,604,000 after acquiring an additional 44,957 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted 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 note on Tuesday, October 29th. Citigroup boosted their price objective on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $163.00 in a report on Monday. The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Finally, Evercore ISI increased their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.33.

Insider Buying and Selling

In other news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

CBRE Group Stock Down 1.5 %

CBRE opened at $135.85 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $41.57 billion, a PE ratio of 43.68 and a beta of 1.39. The stock’s fifty day moving average is $132.36 and its 200-day moving average is $114.71. CBRE Group, Inc. has a one year low of $82.75 and a one year high of $142.00.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results 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 firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the previous year, the business earned $0.72 earnings per share. CBRE Group’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts predict that CBRE Group, Inc. will post 4.99 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.