Amalgamated Bank Cuts Holdings in CBRE Group, Inc. (NYSE:CBRE)

Amalgamated Bank trimmed its stake in CBRE Group, Inc. (NYSE:CBRE) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,317 shares of the financial services provider’s stock after selling 1,343 shares during the period. Amalgamated Bank’s holdings in CBRE Group were worth $5,464,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. raised its holdings in CBRE Group by 9.7% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,002 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 441 shares in the last quarter. Argent Trust Co grew its position in shares of CBRE Group by 12.0% in the 2nd quarter. Argent Trust Co now owns 4,474 shares of the financial services provider’s stock worth $399,000 after buying an additional 479 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of CBRE Group by 9.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 83,338 shares of the financial services provider’s stock worth $7,426,000 after acquiring an additional 7,032 shares in the last quarter. Lingotto Investment Management LLP boosted its stake in CBRE Group by 56.2% in the second quarter. Lingotto Investment Management LLP now owns 94,065 shares of the financial services provider’s stock valued at $8,382,000 after acquiring an additional 33,831 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in CBRE Group in the second quarter valued at approximately $1,460,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CBRE has been the subject of several analyst reports. UBS Group decreased 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 raised their price target 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 shares of CBRE Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $100.00 to $123.00 in a report on Friday, July 26th. Morgan Stanley began coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price for the company. 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 research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Trading Down 0.7 %

Shares of CBRE Group stock opened at $121.60 on Friday. The stock has a market cap of $37.31 billion, a PE ratio of 37.88 and a beta of 1.40. The firm has a fifty day moving average price of $111.03 and a 200 day moving average price of $97.27. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $122.59. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12.

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

Insider Transactions at CBRE Group

In related news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares in the company, valued at approximately $7,538,019.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the sale, the chief operating officer now owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The disclosure for this sale can be found here. Insiders have sold 27,232 shares of company stock valued at $3,058,787 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

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.