Covestor Ltd Sells 99 Shares of CBRE Group, Inc. (NYSE:CBRE)

Covestor Ltd cut its stake in CBRE Group, Inc. (NYSE:CBRE) by 23.4% in the third quarter, HoldingsChannel reports. The fund owned 324 shares of the financial services provider’s stock after selling 99 shares during the period. Covestor Ltd’s holdings in CBRE Group were worth $40,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CBRE. Janney Montgomery Scott LLC bought a new stake in shares of CBRE Group during the first quarter worth approximately $336,000. Empowered Funds LLC raised its position in CBRE Group by 21.6% during the first quarter. Empowered Funds LLC now owns 3,811 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 678 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of CBRE Group by 4.4% in the first quarter. Bleakley Financial Group LLC now owns 4,506 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 191 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of CBRE Group by 54.0% in the first quarter. Orion Portfolio Solutions LLC now owns 32,911 shares of the financial services provider’s stock valued at $3,200,000 after purchasing an additional 11,540 shares during the period. Finally, Tocqueville Asset Management L.P. grew its stake in shares of CBRE Group by 3.7% in the first quarter. Tocqueville Asset Management L.P. now owns 5,638 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 200 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

Insider Transactions at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the transaction, the director now owns 51,244 shares in the company, valued at $5,739,328. The trade was a 17.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

CBRE opened at $130.23 on Friday. The firm has a market cap of $39.85 billion, a P/E ratio of 41.87 and a beta of 1.39. CBRE Group, Inc. has a fifty-two week low of $76.63 and a fifty-two week high of $137.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day moving average of $124.93 and a 200 day moving average of $106.60.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, research analysts expect that CBRE Group, Inc. will post 4.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CBRE. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI raised their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Morgan Stanley began coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Finally, Raymond James boosted their price target on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, CBRE Group has an average rating of “Moderate Buy” and an average target price of $116.83.

CBRE Group 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.