CBRE Group, Inc. (NYSE:CBRE) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in CBRE Group, Inc. (NYSE:CBRE) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,042 shares of the financial services provider’s stock after selling 4,660 shares during the period. State of Alaska Department of Revenue’s holdings in CBRE Group were worth $4,282,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CBRE. Lido Advisors LLC increased its position in CBRE Group by 26.1% in the third quarter. Lido Advisors LLC now owns 4,383 shares of the financial services provider’s stock worth $324,000 after buying an additional 908 shares during the period. Royal London Asset Management Ltd. increased its holdings in shares of CBRE Group by 3.8% during the third quarter. Royal London Asset Management Ltd. now owns 122,333 shares of the financial services provider’s stock valued at $9,036,000 after purchasing an additional 4,512 shares during the period. Royal Bank of Canada increased its holdings in shares of CBRE Group by 32.5% during the third quarter. Royal Bank of Canada now owns 656,361 shares of the financial services provider’s stock valued at $48,480,000 after purchasing an additional 160,836 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of CBRE Group by 7.5% during the third quarter. The Manufacturers Life Insurance Company now owns 235,979 shares of the financial services provider’s stock valued at $17,429,000 after purchasing an additional 16,442 shares during the period. Finally, Comerica Bank increased its holdings in shares of CBRE Group by 51.0% during the third quarter. Comerica Bank now owns 87,161 shares of the financial services provider’s stock valued at $6,438,000 after purchasing an additional 29,430 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Price Performance

NYSE:CBRE opened at $87.39 on Friday. The business’s 50-day moving average price is $87.96 and its 200 day moving average price is $89.46. The firm has a market cap of $26.81 billion, a P/E ratio of 27.22 and a beta of 1.40. CBRE Group, Inc. has a 52-week low of $64.63 and a 52-week high of $98.65. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last released its earnings results on Friday, May 3rd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. The firm had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.94 billion. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. CBRE Group’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. As a group, sell-side analysts predict that CBRE Group, Inc. will post 4.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CBRE shares. UBS Group lowered their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Jefferies Financial Group started coverage on CBRE Group in a report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price target on the stock. Finally, Evercore ISI raised their price target on CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.17.

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.