Quest Partners LLC Sells 10,884 Shares of CBRE Group, Inc. (NYSE:CBRE)

Quest Partners LLC cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 78.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,031 shares of the financial services provider’s stock after selling 10,884 shares during the period. Quest Partners LLC’s holdings in CBRE Group were worth $377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American National Bank & Trust bought a new position in shares of CBRE Group in the third quarter worth about $28,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in CBRE Group in the 3rd quarter worth approximately $32,000. Wolff Wiese Magana LLC lifted its holdings in CBRE Group by 2,830.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after buying an additional 283 shares in the last quarter. Finally, Asset Dedication LLC bought a new position in CBRE Group in the 3rd quarter valued at $40,000. 98.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBRE has been the topic of several research reports. Evercore ISI upped their price target on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods upped their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.83.

CBRE Group Price Performance

CBRE Group stock opened at $135.43 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $41.44 billion, a P/E ratio of 43.55 and a beta of 1.39. The business has a 50-day moving average of $126.83 and a 200-day moving average of $108.80. CBRE Group, Inc. has a 1 year low of $77.97 and a 1 year high of $137.93.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. On average, equities analysts anticipate that CBRE Group, Inc. will post 4.94 EPS for the current year.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

About CBRE Group

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.