Pitcairn Co. Has $317,000 Stake in CBRE Group, Inc. (NYSE:CBRE)

Pitcairn Co. lowered its holdings in CBRE Group, Inc. (NYSE:CBRE) by 28.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,548 shares of the financial services provider’s stock after selling 1,011 shares during the period. Pitcairn Co.’s holdings in CBRE Group were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. American National Bank & Trust bought a new position in shares of CBRE Group in the 3rd quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. grew its stake in 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 acquired a new position in shares of CBRE Group during the 3rd quarter worth approximately $32,000. Wolff Wiese Magana LLC raised its stake in shares of 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 purchasing an additional 283 shares in the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $40,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Trading Up 0.2 %

Shares of NYSE:CBRE opened at $140.76 on Thursday. CBRE Group, Inc. has a 12-month low of $78.18 and a 12-month high of $142.00. The business has a 50 day moving average of $128.07 and a 200-day moving average of $109.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market cap of $43.07 billion, a PE ratio of 45.26 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction 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 directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This represents a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CBRE. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Evercore ISI upped their target price on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Citigroup upped their price objective on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.00.

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.