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

Kentucky Retirement Systems Insurance Trust Fund cut its position in CBRE Group, Inc. (NYSE:CBRE) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,918 shares of the financial services provider’s stock after selling 810 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CBRE Group were worth $1,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American National Bank & Trust bought a new stake in CBRE Group in the 3rd quarter worth about $28,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 215 shares during the period. Crewe Advisors LLC purchased a new position in shares of CBRE Group during the first quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in CBRE Group in the third quarter worth approximately $32,000. Finally, Wolff Wiese Magana LLC grew its position in CBRE Group by 2,830.0% in the 3rd 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. Institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of NYSE CBRE opened at $130.23 on Monday. The stock has a market cap of $39.85 billion, a PE ratio of 41.87 and a beta of 1.39. CBRE Group, Inc. has a 1 year low of $76.63 and a 1 year high of $137.93. The firm has a fifty day moving average price of $125.26 and a 200-day moving average price of $107.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (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 during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the prior year, the business posted $0.72 EPS. CBRE Group’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts anticipate that CBRE Group, Inc. will post 4.94 earnings per share for the current fiscal year.

Insider Activity at CBRE Group

In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the sale, the director now directly owns 51,244 shares in the company, valued at approximately $5,739,328. The trade was a 17.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of research reports. Evercore ISI raised their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Raymond James boosted their price target on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Morgan Stanley started coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

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.