Covestor Ltd Decreases Holdings in CBRE Group, Inc. (NYSE:CBRE)

Covestor Ltd reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 23.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CBRE. American National Bank & Trust acquired a new position in CBRE Group in the 3rd quarter valued at $28,000. Benjamin F. Edwards & Company Inc. boosted its position in CBRE Group by 190.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 215 shares during the period. Crewe Advisors LLC purchased a new stake in CBRE Group during the 1st quarter worth $30,000. Wolff Wiese Magana LLC boosted its position in CBRE Group by 2,830.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after buying an additional 283 shares during the last quarter. Finally, Asset Dedication LLC purchased a new position in CBRE Group in the 3rd quarter valued at about $40,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Trading Down 1.3 %

CBRE Group stock opened at $130.23 on Friday. CBRE Group, Inc. has a 52 week low of $76.63 and a 52 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 market capitalization of $39.85 billion, a price-to-earnings ratio of 41.87 and a beta of 1.39. The company has a 50 day moving average price of $124.93 and a 200 day moving average price of $106.60.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The company had revenue of $9.04 billion during 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 quarter in the prior year, the firm earned $0.72 EPS. Research analysts forecast that CBRE Group, Inc. will post 4.96 EPS for the current year.

Insider Activity

In related news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction 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 transaction, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the firm’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 sale, the director now owns 51,244 shares in the company, valued at $5,739,328. This represents a 17.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CBRE shares. Evercore ISI increased their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company 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. Morgan Stanley initiated coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Finally, Raymond James raised their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

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.