Everence Capital Management Inc. Sells 1,110 Shares of CBRE Group, Inc. (NYSE:CBRE)

Everence Capital Management Inc. cut its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,370 shares of the financial services provider’s stock after selling 1,110 shares during the quarter. Everence Capital Management Inc.’s holdings in CBRE Group were worth $968,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CBRE. Versor Investments LP purchased a new position in CBRE Group in the 2nd quarter worth approximately $250,000. TD Asset Management Inc raised its stake in shares of CBRE Group by 7.3% in the second quarter. TD Asset Management Inc now owns 107,106 shares of the financial services provider’s stock worth $9,544,000 after purchasing an additional 7,264 shares during the last quarter. National Bank of Canada FI raised its stake in shares of CBRE Group by 26.2% in the second quarter. National Bank of Canada FI now owns 82,903 shares of the financial services provider’s stock worth $7,127,000 after purchasing an additional 17,198 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of CBRE Group by 3.6% during the second quarter. Victory Capital Management Inc. now owns 199,726 shares of the financial services provider’s stock valued at $17,798,000 after purchasing an additional 6,862 shares in the last quarter. Finally, Candriam S.C.A. boosted its position in shares of CBRE Group by 101.5% during the second quarter. Candriam S.C.A. now owns 52,987 shares of the financial services provider’s stock valued at $4,721,000 after buying an additional 26,687 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

NYSE CBRE opened at $131.50 on Friday. The business’s fifty day moving average is $133.90 and its 200 day moving average is $118.24. CBRE Group, Inc. has a fifty-two week low of $82.75 and a fifty-two week high of $142.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $40.24 billion, a PE ratio of 42.28 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. Sell-side analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $133.00 to $152.00 in a research report on Thursday. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Evercore ISI increased their price target on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

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.