Kentucky Retirement Systems Acquires 144 Shares of CBRE Group, Inc. (NYSE:CBRE)

Kentucky Retirement Systems grew its holdings in CBRE Group, Inc. (NYSE:CBRE) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,728 shares of the financial services provider’s stock after purchasing an additional 144 shares during the quarter. Kentucky Retirement Systems’ holdings in CBRE Group were worth $2,025,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CBRE. Wellington Management Group LLP lifted its holdings in CBRE Group by 164.1% during the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after buying an additional 2,799,097 shares during the period. Swedbank AB purchased a new stake in shares of CBRE Group during the 1st quarter worth $162,576,000. Parnassus Investments LLC bought a new stake in CBRE Group during the fourth quarter valued at about $104,277,000. Harris Associates L P grew its stake in CBRE Group by 4.5% in the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after purchasing an additional 683,225 shares during the last quarter. Finally, Delta Global Management LP raised its holdings in CBRE Group by 266.2% in the first quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock worth $52,877,000 after purchasing an additional 395,297 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target on the stock. UBS Group reduced their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. Raymond James boosted their target price on 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, Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Five research 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, CBRE Group currently has an average rating of “Moderate Buy” and an average target price of $112.33.

CBRE Group Stock Performance

Shares of CBRE stock opened at $121.60 on Friday. 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 business has a fifty day moving average of $111.03 and a 200 day moving average of $97.27. The firm has a market capitalization of $37.31 billion, a price-to-earnings ratio of 37.88 and a beta of 1.40. CBRE Group, Inc. has a 1 year low of $64.63 and a 1 year high of $122.59.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate 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 was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, research analysts expect that CBRE Group, Inc. will post 4.81 earnings per share for the current year.

Insider Activity

In related news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $109.87, for a total value of $219,740.00. Following the sale, the chief accounting officer now owns 16,606 shares in the company, valued at approximately $1,824,501.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. 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 ninety days. 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.