BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 7,346 Shares of CBRE Group, Inc. (NYSE:CBRE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in CBRE Group, Inc. (NYSE:CBRE) by 12.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,199 shares of the financial services provider’s stock after selling 7,346 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CBRE Group were worth $6,373,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CBRE. Lindbrook Capital LLC grew its position in CBRE Group by 4.7% in the 3rd quarter. Lindbrook Capital LLC now owns 1,750 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 79 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of CBRE Group by 3.1% in the third quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock valued at $329,000 after buying an additional 80 shares during the period. Fidelis Capital Partners LLC grew its position in CBRE Group by 2.1% during the third quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock worth $492,000 after buying an additional 82 shares in the last quarter. Private Advisor Group LLC increased its stake in CBRE Group by 1.2% during the third quarter. Private Advisor Group LLC now owns 7,688 shares of the financial services provider’s stock valued at $957,000 after acquiring an additional 90 shares during the period. Finally, Community Bank & Trust Waco Texas raised its holdings in CBRE Group by 0.6% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 15,280 shares of the financial services provider’s stock valued at $1,902,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CBRE shares. Evercore ISI lifted 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. Citigroup lifted their price target on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Keefe, Bruyette & Woods increased their price objective 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. Finally, Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

CBRE Group Price Performance

Shares of CBRE Group stock opened at $138.39 on Tuesday. The stock has a market capitalization of $42.35 billion, a price-to-earnings ratio of 44.50 and a beta of 1.39. The firm’s 50-day moving average price is $129.13 and its two-hundred day moving average price is $110.92. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a 1-year low of $80.59 and a 1-year high of $142.00.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results 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 business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the prior year, the company earned $0.72 EPS. CBRE Group’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

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.