True North Advisors LLC Lowers Holdings in CBRE Group, Inc. (NYSE:CBRE)

True North Advisors LLC lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 6.3% in the third quarter, HoldingsChannel reports. The fund owned 12,905 shares of the financial services provider’s stock after selling 865 shares during the quarter. True North Advisors LLC’s holdings in CBRE Group were worth $1,606,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. American National Bank & Trust purchased a new position in shares of CBRE Group in the 3rd quarter worth $28,000. Benjamin F. Edwards & Company Inc. increased its stake in CBRE Group by 190.3% during 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 last quarter. Crewe Advisors LLC purchased a new position in shares of CBRE Group in the 1st quarter worth about $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of CBRE Group by 44.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 165 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in shares of CBRE Group in the 2nd quarter valued at about $75,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Up 1.5 %

Shares of CBRE Group stock opened at $121.03 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $116.00 and a 200 day moving average price of $99.73. CBRE Group, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $125.43. The firm has a market cap of $37.13 billion, a P/E ratio of 37.70 and a beta of 1.40.

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

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 3,311 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $360,534.79. Following the completion of the transaction, the chief financial officer now directly owns 71,969 shares in the company, valued at $7,836,704.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Emma E. Giamartino sold 3,311 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $360,534.79. Following the completion of the transaction, the chief financial officer now directly owns 71,969 shares in the company, valued at approximately $7,836,704.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,232 shares of company stock valued at $3,058,787 over the last quarter. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CBRE shares. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Morgan Stanley started 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 on the stock. Evercore ISI raised their target price on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, UBS Group reduced their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.