True North Advisors LLC Cuts Holdings in CBRE Group, Inc. (NYSE:CBRE)

True North Advisors LLC lessened its stake in CBRE Group, Inc. (NYSE:CBRE) by 6.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,905 shares of the financial services provider’s stock after selling 865 shares during the quarter. True North Advisors LLC’s holdings in CBRE Group were worth $1,606,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American National Bank & Trust purchased a new position in CBRE Group in the third quarter valued at $28,000. Crewe Advisors LLC purchased a new stake in CBRE Group during the 1st quarter worth about $30,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of CBRE Group by 190.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 215 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of CBRE Group by 44.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 165 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of CBRE Group during the 2nd quarter worth about $75,000. 98.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Vikramaditya Kohli sold 1,074 shares of CBRE Group stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares in the company, valued at $7,538,019.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the transaction, the chief operating officer now owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lindsey S. Caplan sold 2,000 shares of the company’s 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 owns 16,606 shares in the company, valued at approximately $1,824,501.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,232 shares of company stock worth $3,058,787 over the last ninety days. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CBRE. Morgan Stanley initiated coverage on shares of CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective for the company. Evercore ISI upped their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Keefe, Bruyette & Woods boosted their target price on CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, Raymond James raised their price target 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. Five research 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 data from MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and a consensus target price of $113.83.

CBRE Group Price Performance

Shares of CBRE opened at $121.03 on Wednesday. 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’s 50 day moving average is $116.00 and its two-hundred day moving average is $99.73. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $125.43. The firm has a market capitalization of $37.13 billion, a PE ratio of 37.70 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $8.39 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. Research analysts anticipate that CBRE Group, Inc. will post 4.81 earnings per share for the current year.

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.