CBRE Group, Inc. (NYSE:CBRE) Stake Reduced by Olstein Capital Management L.P.

Olstein Capital Management L.P. lessened its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 17.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 71,000 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. CBRE Group comprises approximately 1.5% of Olstein Capital Management L.P.’s holdings, making the stock its 19th largest position. Olstein Capital Management L.P.’s holdings in CBRE Group were worth $8,838,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. American National Bank & Trust acquired a new position in CBRE Group during the 3rd quarter worth $28,000. Wolff Wiese Magana LLC raised its position in CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after buying an additional 283 shares during the period. Crewe Advisors LLC acquired a new position in CBRE Group during the first quarter valued at $30,000. Asset Dedication LLC acquired a new position in CBRE Group during the third quarter valued at $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in CBRE Group by 190.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE stock traded up $2.05 during mid-day trading on Thursday, reaching $131.45. The stock had a trading volume of 112,959 shares, compared to its average volume of 1,651,895. The firm’s 50 day simple moving average is $122.61 and its 200 day simple moving average is $104.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a one year low of $71.96 and a one year high of $136.92. The firm has a market cap of $40.23 billion, a PE ratio of 41.61 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter last year, the company earned $0.72 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts forecast that CBRE Group, Inc. will post 5.03 EPS for the current year.

Insider Transactions at CBRE Group

In related news, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the sale, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at $7,538,019.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Vikramaditya Kohli sold 1,074 shares of CBRE Group stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the sale, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $360,534.79. Following the sale, the chief financial officer now directly owns 71,969 shares of the company’s stock, valued at approximately $7,836,704.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,232 shares of company stock valued at $2,839,047. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CBRE. Keefe, Bruyette & Woods upped their price target on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Morgan Stanley assumed coverage on CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. Evercore ISI increased their price objective on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Raymond James increased their price objective on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

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.