Farallon Capital Management LLC Decreases Stake in CBRE Group, Inc. (NYSE:CBRE)

Farallon Capital Management LLC trimmed its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 9.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,773,000 shares of the financial services provider’s stock after selling 411,030 shares during the period. CBRE Group comprises about 1.6% of Farallon Capital Management LLC’s portfolio, making the stock its 20th biggest position. Farallon Capital Management LLC owned 1.23% of CBRE Group worth $336,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBRE. Harris Associates L P raised its position in shares of CBRE Group by 4.5% during the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after acquiring an additional 683,225 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of CBRE Group by 3.0% during the 2nd quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock worth $636,847,000 after buying an additional 210,004 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of CBRE Group by 0.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock valued at $542,419,000 after buying an additional 53,142 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of CBRE Group by 164.1% in the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after buying an additional 2,799,097 shares in the last quarter. Finally, Earnest Partners LLC grew its position in shares of CBRE Group by 7.2% in the 1st quarter. Earnest Partners LLC now owns 3,582,398 shares of the financial services provider’s stock valued at $348,352,000 after buying an additional 239,839 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Up 0.2 %

CBRE Group stock opened at $121.81 on Tuesday. The stock has a market capitalization of $37.37 billion, a price-to-earnings ratio of 37.95 and a beta of 1.40. 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 has a 50 day moving average of $111.55 and a two-hundred day moving average of $97.54. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $122.83.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company earned $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, CAO Lindsey S. Caplan sold 2,000 shares of the 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 of the company’s stock, valued at $1,824,501.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Lindsey S. Caplan sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the sale, the chief accounting officer now owns 16,606 shares in the company, valued at $1,824,501.22. The disclosure for this sale can be found here. Insiders have sold a total of 27,232 shares of company stock valued at $3,058,787 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.