Ensign Peak Advisors Inc Sells 26,498 Shares of CBRE Group, Inc. (NYSE:CBRE)

Ensign Peak Advisors Inc reduced its stake in CBRE Group, Inc. (NYSE:CBRE) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 376,013 shares of the financial services provider’s stock after selling 26,498 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.12% of CBRE Group worth $33,507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of CBRE Group by 164.1% in 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 purchasing an additional 2,799,097 shares during the period. Swedbank AB bought a new position in CBRE Group in the 1st quarter worth $162,576,000. Parnassus Investments LLC purchased a new stake in CBRE Group in the 4th quarter worth $104,277,000. Harris Associates L P raised its holdings in CBRE Group by 4.5% during 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 acquiring an additional 683,225 shares during the period. Finally, Delta Global Management LP lifted its position in shares of 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 valued at $52,877,000 after acquiring an additional 395,297 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Trading Down 0.7 %

Shares of CBRE stock opened at $121.60 on Monday. The company has a market cap of $37.31 billion, a PE 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. The stock’s 50 day simple moving average is $111.03 and its two-hundred day simple moving average is $97.34. 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 results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. CBRE Group’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. Research analysts predict that CBRE Group, Inc. will post 4.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CBRE. Morgan Stanley started coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Raymond James boosted their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $100.00 to $123.00 in a research report on Friday, July 26th. Finally, UBS Group decreased their target price 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. Five equities 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

Insider Buying and Selling

In other news, CEO Daniel G. Queenan sold 10,000 shares of the company’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 transaction of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction dated 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 sale, the director now owns 51,244 shares in the company, valued at approximately $5,739,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,232 shares of company stock valued at $3,058,787. Company 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.