Kendall Capital Management Reduces Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Kendall Capital Management reduced its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,050 shares of the financial services provider’s stock after selling 285 shares during the quarter. Kendall Capital Management’s holdings in CBRE Group were worth $1,074,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kentucky Retirement Systems increased its holdings in shares of CBRE Group by 0.6% in the 2nd quarter. Kentucky Retirement Systems now owns 22,728 shares of the financial services provider’s stock worth $2,025,000 after buying an additional 144 shares during the last quarter. Seven Eight Capital LP bought a new stake in CBRE Group in the 2nd quarter worth $380,000. Hsbc Holdings PLC grew its holdings in CBRE Group by 1.4% in the 2nd quarter. Hsbc Holdings PLC now owns 692,726 shares of the financial services provider’s stock worth $61,597,000 after acquiring an additional 9,338 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its position in shares of CBRE Group by 7.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 29,938 shares of the financial services provider’s stock worth $2,668,000 after purchasing an additional 2,089 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of CBRE Group by 16.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 33,128 shares of the financial services provider’s stock worth $2,952,000 after purchasing an additional 4,659 shares during the period. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Price Performance

NYSE:CBRE opened at $120.33 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $36.92 billion, a price-to-earnings ratio of 37.49 and a beta of 1.40. The company has a 50 day moving average price of $109.91 and a 200-day moving average price of $96.88. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $121.23.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Raymond James raised their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Morgan Stanley started coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target on the stock. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $123.00 in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

Insider Activity

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

CBRE Group 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.