State of Alaska Department of Revenue Cuts Stake in CBRE Group, Inc. (NYSE:CBRE)

State of Alaska Department of Revenue lowered its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,442 shares of the financial services provider’s stock after selling 3,010 shares during the period. State of Alaska Department of Revenue’s holdings in CBRE Group were worth $4,908,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CBRE. DekaBank Deutsche Girozentrale grew its stake in shares of CBRE Group by 9.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 416,478 shares of the financial services provider’s stock valued at $51,120,000 after buying an additional 35,972 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in CBRE Group by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,055 shares of the financial services provider’s stock valued at $2,123,000 after acquiring an additional 334 shares during the period. Forsta AP Fonden grew its position in CBRE Group by 20.7% during the 3rd quarter. Forsta AP Fonden now owns 61,200 shares of the financial services provider’s stock worth $7,618,000 after acquiring an additional 10,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in CBRE Group by 23.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,335 shares of the financial services provider’s stock worth $3,121,000 after purchasing an additional 4,743 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in CBRE Group in the third quarter valued at approximately $8,971,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CBRE has been the topic of several recent analyst reports. UBS Group cut their target price on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Morgan Stanley started coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective for the company. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Raymond James upped their price target on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $116.83.

Insider Buying and Selling at CBRE Group

In related news, COO Vikramaditya Kohli sold 1,074 shares of the company’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 value of $116,947.86. Following the sale, the chief operating officer now owns 69,226 shares in the company, valued at $7,538,019.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group 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 completion of the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now owns 69,226 shares in the company, valued at approximately $7,538,019.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,232 shares of company stock valued at $2,839,047. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

Shares of CBRE stock opened at $130.91 on Wednesday. The business’s fifty day moving average is $120.62 and its 200 day moving average is $102.94. 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 stock has a market cap of $40.17 billion, a price-to-earnings ratio of 40.78 and a beta of 1.40. CBRE Group, Inc. has a twelve month low of $66.12 and a twelve month high of $136.06.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the prior year, the firm earned $0.72 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Research analysts expect that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

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.