Kentucky Retirement Systems Insurance Trust Fund Sells 810 Shares of CBRE Group, Inc. (NYSE:CBRE)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in CBRE Group, Inc. (NYSE:CBRE) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,918 shares of the financial services provider’s stock after selling 810 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CBRE Group were worth $1,110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBRE. Cetera Investment Advisers lifted its holdings in shares of CBRE Group by 500.1% in the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after acquiring an additional 23,290 shares during the last quarter. Natixis lifted its stake in CBRE Group by 69.0% in the first quarter. Natixis now owns 55,018 shares of the financial services provider’s stock worth $5,350,000 after purchasing an additional 22,464 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of CBRE Group by 232.4% during the first quarter. Intech Investment Management LLC now owns 13,961 shares of the financial services provider’s stock valued at $1,358,000 after buying an additional 9,761 shares during the period. Bayesian Capital Management LP raised its holdings in shares of CBRE Group by 138.8% in the first quarter. Bayesian Capital Management LP now owns 9,900 shares of the financial services provider’s stock worth $963,000 after buying an additional 5,754 shares during the period. Finally, Czech National Bank lifted its stake in shares of CBRE Group by 9.8% during the 2nd quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock worth $5,121,000 after acquiring an additional 5,125 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CBRE shares. Raymond James upped their price objective on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods raised their price target 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. Evercore ISI lifted 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. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Morgan Stanley started 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 for the company. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

CBRE Group Stock Performance

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

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.91% and a net margin of 2.79%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. On average, sell-side analysts anticipate that CBRE Group, Inc. will post 4.94 EPS for the current fiscal year.

Insider Buying and Selling at CBRE Group

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 completion of the sale, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. This represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction on 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 transaction, the director now owns 51,244 shares in the company, valued at approximately $5,739,328. This trade represents 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 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.