Kentucky Retirement Systems increased its stake in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 0.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 20,883 shares of the financial services provider’s stock after buying an additional 184 shares during the period. Kentucky Retirement Systems’ holdings in CBRE Group were worth $2,731,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of CBRE Group by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider’s stock valued at $1,035,229,000 after purchasing an additional 245,821 shares during the last quarter. Cantillon Capital Management LLC boosted its holdings in CBRE Group by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 4,748,386 shares of the financial services provider’s stock valued at $623,416,000 after acquiring an additional 25,142 shares during the last quarter. Franklin Resources Inc. boosted its holdings in CBRE Group by 17.3% in the fourth quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider’s stock valued at $538,390,000 after acquiring an additional 605,403 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of CBRE Group by 290.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after purchasing an additional 3,011,566 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of CBRE Group in the 4th quarter valued at about $514,609,000. Institutional investors and hedge funds own 98.41% of the company’s stock.
Wall Street Analysts Forecast Growth
CBRE has been the topic of several research analyst reports. UBS Group reduced their price objective on CBRE Group from $146.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price target (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Wall Street Zen cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. reduced their target price on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $150.33.
CBRE Group Trading Up 3.5%
NYSE CBRE opened at $138.61 on Tuesday. The company’s fifty day simple moving average is $126.16 and its 200-day simple moving average is $130.85. CBRE Group, Inc. has a 52 week low of $85.74 and a 52 week high of $147.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $41.32 billion, a P/E ratio of 42.39 and a beta of 1.29.
CBRE Group (NYSE:CBRE – Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. The firm had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Chad J. Doellinger sold 494 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total value of $62,268.70. Following the sale, the insider now directly owns 27,945 shares of the company’s stock, valued at $3,522,467.25. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Emma E. Giamartino sold 1,972 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the sale, the chief financial officer now directly owns 105,371 shares in the company, valued at $13,603,396.10. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,599 shares of company stock worth $333,600. 0.42% of the stock is currently owned by corporate insiders.
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.
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