Envestnet Asset Management Inc. Reduces Holdings in CBRE Group, Inc. (NYSE:CBRE)

Envestnet Asset Management Inc. cut its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 825,419 shares of the financial services provider’s stock after selling 21,324 shares during the quarter. Envestnet Asset Management Inc. owned 0.27% of CBRE Group worth $73,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in CBRE Group during the 1st quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its holdings in CBRE Group by 44.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 165 shares during the period. EdgeRock Capital LLC purchased a new stake in CBRE Group during the 2nd quarter valued at about $75,000. Spartan Planning & Wealth Management purchased a new stake in CBRE Group in the 4th quarter worth approximately $78,000. Finally, Rothschild Investment LLC purchased a new stake in CBRE Group in the 2nd quarter worth approximately $80,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CBRE shares. Morgan Stanley started coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. UBS Group dropped their price objective on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Raymond James increased their price objective on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $123.00 in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their price objective on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and an average price target of $110.29.

CBRE Group Trading Down 1.1 %

Shares of CBRE stock opened at $118.17 on Wednesday. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month high of $120.79. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $109.30 and its 200-day moving average price is $96.72. The stock has a market capitalization of $36.26 billion, a price-to-earnings ratio of 36.81 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. Equities research analysts predict that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

Insider Activity

In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the transaction, the chief accounting officer now directly owns 16,606 shares in the company, valued at approximately $1,824,501.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $109.87, for a total transaction of $219,740.00. Following the transaction, the chief accounting officer now directly owns 16,606 shares of the company’s stock, valued at $1,824,501.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,232 shares of company stock valued at $3,058,787. 0.54% of the stock is currently owned by company insiders.

About CBRE Group

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.