Public Employees Retirement Association of Colorado Sells 1,003 Shares of CBRE Group, Inc. (NYSE:CBRE)

Public Employees Retirement Association of Colorado cut its holdings in CBRE Group, Inc. (NYSE:CBRE) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,926 shares of the financial services provider’s stock after selling 1,003 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.07% of CBRE Group worth $18,528,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harris Associates L P grew its holdings in shares of CBRE Group by 4.5% in the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after purchasing an additional 683,225 shares during the last quarter. Principal Financial Group Inc. grew its holdings in CBRE Group by 3.0% in the 2nd quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock worth $636,847,000 after acquiring an additional 210,004 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CBRE Group by 0.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock worth $542,419,000 after acquiring an additional 53,142 shares during the last quarter. Wellington Management Group LLP increased its position in shares of CBRE Group by 164.1% in the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after acquiring an additional 2,799,097 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of CBRE Group by 7.2% during the first quarter. Earnest Partners LLC now owns 3,582,398 shares of the financial services provider’s stock valued at $348,352,000 after acquiring an additional 239,839 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $121.60 on Friday. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $122.59. The firm has a market capitalization of $37.31 billion, a P/E ratio of 37.88 and a beta of 1.40. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $111.03 and a two-hundred day simple moving average of $97.27.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. CBRE Group’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. On average, equities analysts forecast that CBRE Group, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In related news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 51,244 shares in the company, valued at approximately $5,739,328. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The disclosure for this sale can be found here. Insiders have sold a total of 27,232 shares of company stock valued at $3,058,787 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CBRE has been the topic of several recent analyst reports. UBS Group cut their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $100.00 to $123.00 in a report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, Morgan Stanley assumed coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and an average target price of $112.33.

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.