Envestnet Asset Management Inc. Lowers Holdings in CBRE Group, Inc. (NYSE:CBRE)

Envestnet Asset Management Inc. trimmed its holdings in CBRE Group, Inc. (NYSE:CBRE) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 825,419 shares of the financial services provider’s stock after selling 21,324 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CBRE Group were worth $73,553,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of CBRE Group during the 1st quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of CBRE Group by 44.8% during the 1st 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 in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of CBRE Group during the 2nd quarter worth about $75,000. Spartan Planning & Wealth Management purchased a new stake in shares of CBRE Group during the 4th quarter worth about $78,000. Finally, Rothschild Investment LLC purchased a new stake in shares of CBRE Group during the 2nd quarter worth about $80,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CBRE has been the topic of several recent analyst reports. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $100.00 to $123.00 in a research note on Friday, July 26th. Raymond James upped their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Morgan Stanley began 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 for the company. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods upped their price target 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. Five analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.29.

Insider Activity

In other news, CAO Lindsey S. Caplan sold 2,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,606 shares of the company’s stock, valued at $1,824,501.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $24,894,168.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lindsey S. Caplan sold 2,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the transaction, the chief accounting officer now owns 16,606 shares in the company, valued at $1,824,501.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,232 shares of company stock valued at $3,058,787. Insiders own 0.54% of the company’s stock.

CBRE Group Stock Down 1.1 %

CBRE stock opened at $118.17 on Wednesday. The stock 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 current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $120.79. The company’s 50 day moving average is $109.30 and its two-hundred day moving average is $96.72.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the firm earned $0.82 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Research analysts expect that CBRE Group, Inc. will post 4.81 earnings per share 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.