Wright Investors Service Inc. Sells 23,376 Shares of CBRE Group, Inc. (NYSE:CBRE)

Wright Investors Service Inc. lowered its stake in CBRE Group, Inc. (NYSE:CBRE) by 58.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,480 shares of the financial services provider’s stock after selling 23,376 shares during the quarter. Wright Investors Service Inc.’s holdings in CBRE Group were worth $2,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its position in shares of CBRE Group by 14.7% during the fourth quarter. Stifel Financial Corp now owns 51,190 shares of the financial services provider’s stock valued at $4,765,000 after acquiring an additional 6,561 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of CBRE Group by 2.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 242,574 shares of the financial services provider’s stock valued at $22,581,000 after purchasing an additional 6,595 shares in the last quarter. Rafferty Asset Management LLC boosted its position in shares of CBRE Group by 16.1% during the fourth quarter. Rafferty Asset Management LLC now owns 45,560 shares of the financial services provider’s stock valued at $4,241,000 after buying an additional 6,321 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in CBRE Group in the 4th quarter worth about $227,000. Finally, Tower Research Capital LLC TRC raised its position in CBRE Group by 0.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 42,490 shares of the financial services provider’s stock worth $3,955,000 after buying an additional 149 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Performance

CBRE Group stock traded down $1.68 during trading on Friday, reaching $120.84. The company had a trading volume of 1,086,832 shares, compared to its average volume of 1,644,850. The firm has a market capitalization of $37.08 billion, a price-to-earnings ratio of 37.64 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 firm’s 50-day simple moving average is $115.65 and its 200 day simple moving average is $99.38. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $125.43.

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

Insider Transactions 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the sale, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,232 shares of company stock valued at $3,058,787 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CBRE shares. Raymond James lifted their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI lifted their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday. 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, July 3rd. Keefe, Bruyette & Woods lifted their price objective on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Finally, Morgan Stanley assumed coverage on CBRE Group in a research report on Thursday, July 25th. They set 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 data from MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and an average price target of $113.83.

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.