Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in CBRE Group, Inc. (NYSE:CBRE) by 9.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,895 shares of the financial services provider’s stock after selling 963 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CBRE Group were worth $1,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CBRE. Brighton Jones LLC raised its holdings in shares of CBRE Group by 322.9% in the 4th quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider’s stock valued at $1,903,000 after buying an additional 11,065 shares during the period. Allworth Financial LP raised its holdings in shares of CBRE Group by 47.2% in the 4th quarter. Allworth Financial LP now owns 636 shares of the financial services provider’s stock valued at $89,000 after buying an additional 204 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of CBRE Group in the 4th quarter valued at $1,365,000. Global Retirement Partners LLC increased its holdings in CBRE Group by 24.5% during the 4th quarter. Global Retirement Partners LLC now owns 982 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 193 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in CBRE Group by 71.4% during the 4th quarter. Handelsbanken Fonder AB now owns 26,961 shares of the financial services provider’s stock worth $3,540,000 after purchasing an additional 11,235 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE opened at $138.61 on Tuesday. The stock has a 50 day moving average price of $126.16 and a 200 day moving average price of $130.85. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $41.32 billion, a price-to-earnings ratio of 42.39 and a beta of 1.29. CBRE Group, Inc. has a 52-week low of $85.74 and a 52-week high of $147.75.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. Research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the sale, the chief financial officer now owns 105,371 shares in the company, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chad J. Doellinger sold 494 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 27,945 shares of the company’s stock, valued at approximately $3,522,467.25. This represents a 1.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,599 shares of company stock valued at $333,600 over the last three months. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CBRE shares. UBS Group decreased their price objective on CBRE Group from $146.00 to $130.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $129.00 to $131.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 30th. Morgan Stanley reissued an “overweight” rating and set a $170.00 price objective (up from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Wall Street Zen downgraded CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, JPMorgan Chase & Co. lowered their price objective on CBRE Group from $163.00 to $141.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and an average price target of $150.33.

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.