Bokf Na Reduces Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Bokf Na cut its stake in CBRE Group, Inc. (NYSE:CBRE) by 30.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,103 shares of the financial services provider’s stock after selling 477 shares during the quarter. Bokf Na’s holdings in CBRE Group were worth $98,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CBRE. Gilbert & Cook Inc. increased its holdings in CBRE Group by 5.6% in the fourth quarter. Gilbert & Cook Inc. now owns 6,081 shares of the financial services provider’s stock valued at $566,000 after buying an additional 322 shares in the last quarter. Gryphon Financial Partners LLC purchased a new position in CBRE Group in the fourth quarter valued at about $240,000. Panagora Asset Management Inc. purchased a new position in CBRE Group in the fourth quarter valued at about $239,000. Robeco Institutional Asset Management B.V. increased its holdings in CBRE Group by 3.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,885,685 shares of the financial services provider’s stock valued at $1,755,000 after buying an additional 54,978 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in CBRE Group by 7.2% in the fourth quarter. Brown Advisory Inc. now owns 68,111 shares of the financial services provider’s stock valued at $6,340,000 after buying an additional 4,587 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CBRE Group news, 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 transaction 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Christopher T. Jenny sold 10,847 shares of the firm’s 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 transaction, the director now owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares in the company, valued at approximately $24,894,168.98. The disclosure for this sale can be found here. Insiders have sold a total of 27,232 shares of company stock valued at $3,058,787 over the last quarter. Company insiders own 0.54% of the company’s stock.

CBRE Group Stock Down 1.1 %

Shares of NYSE CBRE opened at $118.17 on Wednesday. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $120.79. The firm’s 50 day moving average price is $109.30 and its 200 day moving average price is $96.72. The firm has a market cap of $36.26 billion, a P/E ratio of 36.81 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12.

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

Analyst Ratings Changes

Several research firms have recently commented on CBRE. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. UBS Group lowered their price target on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Morgan Stanley began coverage on shares of CBRE Group in a research report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target on the stock. Finally, Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $100.00 to $123.00 in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.29.

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.