Victory Capital Management Inc. Cuts Position in CBRE Group, Inc. (NYSE:CBRE)

Victory Capital Management Inc. lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,866 shares of the financial services provider’s stock after selling 2,860 shares during the quarter. Victory Capital Management Inc.’s holdings in CBRE Group were worth $24,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. American National Bank & Trust bought a new stake in shares of CBRE Group in the 3rd quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. lifted its position in CBRE Group by 190.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares during the last quarter. Crewe Advisors LLC acquired a new stake in CBRE Group in the first quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new position in CBRE Group in the third quarter worth $32,000. Finally, Wolff Wiese Magana LLC increased its position in shares of CBRE Group by 2,830.0% during the third 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. Institutional investors own 98.41% of the company’s stock.

Insiders Place Their Bets

In other CBRE Group 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 completion of the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 17.47 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CBRE shares. Keefe, Bruyette & Woods raised their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI upped their price objective 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. Raymond James lifted their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley assumed coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target on the stock. Five investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $130.23 on Monday. CBRE Group, Inc. has a 52 week low of $76.63 and a 52 week high of $137.93. The business’s 50 day moving average price is $125.26 and its 200 day moving average price is $107.18. 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 firm has a market cap of $39.85 billion, a P/E ratio of 41.87 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, sell-side analysts expect that CBRE Group, Inc. will post 4.94 earnings per share for the current 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.