Vance Wealth Inc. Reduces Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Vance Wealth Inc. reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,571 shares of the financial services provider’s stock after selling 988 shares during the quarter. Vance Wealth Inc.’s holdings in CBRE Group were worth $1,067,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Cetera Investment Advisers increased its holdings in CBRE Group by 500.1% during the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after purchasing an additional 23,290 shares during the last quarter. Natixis increased its holdings in shares of CBRE Group by 69.0% in the 1st quarter. Natixis now owns 55,018 shares of the financial services provider’s stock valued at $5,350,000 after acquiring an additional 22,464 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of CBRE Group by 232.4% in the 1st quarter. Intech Investment Management LLC now owns 13,961 shares of the financial services provider’s stock valued at $1,358,000 after acquiring an additional 9,761 shares during the last quarter. Bayesian Capital Management LP increased its holdings in shares of CBRE Group by 138.8% in the 1st quarter. Bayesian Capital Management LP now owns 9,900 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 5,754 shares during the last quarter. Finally, Czech National Bank increased its holdings in shares of CBRE Group by 9.8% in the 2nd quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock valued at $5,121,000 after acquiring an additional 5,125 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Trading Up 1.9 %

NYSE:CBRE opened at $132.67 on Tuesday. 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, Inc. has a 12-month low of $76.63 and a 12-month high of $137.93. The business has a 50 day simple moving average of $125.61 and a 200 day simple moving average of $107.50. The firm has a market capitalization of $40.60 billion, a P/E ratio of 42.66 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last announced 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 company had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that CBRE Group, Inc. will post 4.94 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CBRE shares. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Morgan Stanley started coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target for the company. 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 report on Thursday, July 25th. Evercore ISI boosted their price target on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods boosted their price objective 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. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Insiders Place Their Bets

In other news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value 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 $24,894,168.98. This represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by 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.