Wright Investors Service Inc. Has $2.05 Million Position in CBRE Group, Inc. (NYSE:CBRE)

Wright Investors Service Inc. cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 58.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,480 shares of the financial services provider’s stock after selling 23,376 shares during the period. Wright Investors Service Inc.’s holdings in CBRE Group were worth $2,051,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its position in shares of CBRE Group by 500.1% in the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after purchasing an additional 23,290 shares during the period. Natixis raised its position in shares of CBRE Group by 69.0% in the 1st quarter. Natixis now owns 55,018 shares of the financial services provider’s stock worth $5,350,000 after acquiring an additional 22,464 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of CBRE Group in the 1st quarter valued at about $1,118,000. Nordea Investment Management AB boosted its position in shares of CBRE Group by 1,730.4% during the 1st quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider’s stock valued at $38,550,000 after purchasing an additional 372,870 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in CBRE Group by 103.8% during the fourth quarter. Fisher Asset Management LLC now owns 44,065 shares of the financial services provider’s stock worth $4,102,000 after purchasing an additional 22,442 shares during the period. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

CBRE traded down $1.68 during trading on Friday, reaching $120.84. 1,086,832 shares of the company were exchanged, compared to its average volume of 1,644,850. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month high of $125.43. The company’s 50-day moving average is $115.65 and its two-hundred day moving average is $99.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The company has a market cap of $37.08 billion, a price-to-earnings ratio of 37.64 and a beta of 1.40.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on CBRE. Evercore ISI increased their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday. 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 research report on Thursday, August 1st. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Morgan Stanley began coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective for the company. Finally, Raymond James raised their price target on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and a consensus price target of $113.83.

Insider Activity at CBRE Group

In other CBRE Group 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 value of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction dated Tuesday, August 20th. The stock was 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 directly owns 51,244 shares in the company, valued at $5,739,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. The trade was a 0.00 % decrease in their ownership of the stock. 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 90 days. 0.54% of the stock is owned by insiders.

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.