CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Empirical Finance LLC

Empirical Finance LLC cut its position in CBRE Group, Inc. (NYSE:CBRE) by 8.8% during the second quarter, HoldingsChannel.com reports. The fund owned 10,491 shares of the financial services provider’s stock after selling 1,011 shares during the period. Empirical Finance LLC’s holdings in CBRE Group were worth $935,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in CBRE Group in the 1st quarter valued at $30,000. EverSource Wealth Advisors LLC boosted its position in CBRE Group by 44.8% during the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 165 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in CBRE Group during the 4th quarter valued at about $59,000. Spartan Planning & Wealth Management acquired a new stake in CBRE Group in the 4th quarter valued at about $78,000. Finally, First Horizon Advisors Inc. lifted its stake in CBRE Group by 18.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 941 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 144 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CBRE shares. 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. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Morgan Stanley started coverage on shares of CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective 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. Finally, UBS Group decreased 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. Five analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.29.

CBRE Group Stock Up 0.5 %

Shares of CBRE opened at $115.14 on Friday. The company’s 50-day moving average price is $102.49 and its 200 day moving average price is $94.52. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month high of $118.39. 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 has a market cap of $35.33 billion, a P/E ratio of 35.87 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same period in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that CBRE Group, Inc. will post 4.84 earnings per share for the current year.

Insider Transactions at CBRE Group

In other news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction 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 completion of the sale, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $109.87, for a total transaction of $219,740.00. Following the sale, the chief accounting officer now directly owns 16,606 shares in the company, valued at approximately $1,824,501.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 17,232 shares of company stock worth $1,912,087 over the last ninety days. Company insiders own 0.54% of the company’s stock.

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.