CBRE Group, Inc. (NYSE:CBRE) Stock Position Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 reporting period.

Other large investors also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new position in shares of CBRE Group during the third quarter valued at $27,000. American National Bank & Trust purchased a new position in CBRE Group during the 3rd quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of CBRE Group by 190.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of CBRE Group in the third quarter worth approximately $32,000. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of 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 worth $36,000 after purchasing an additional 283 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Price Performance

Shares of NYSE:CBRE opened at $135.85 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $41.57 billion, a P/E ratio of 43.68 and a beta of 1.39. The business has a 50-day moving average of $132.36 and a two-hundred day moving average of $114.71. CBRE Group, Inc. has a fifty-two week low of $82.75 and a fifty-two week high of $142.00.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts predict that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CBRE shares. The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective on the stock. Evercore ISI increased their price objective on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods boosted their target price on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $120.00 to $163.00 in a research note on Monday. Finally, Citigroup lifted their price target on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and an average price target of $133.33.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

CBRE Group 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.