Park Avenue Securities LLC Trims Stake in CBRE Group, Inc. (NYSE:CBRE)

Park Avenue Securities LLC cut its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,587 shares of the financial services provider’s stock after selling 5,158 shares during the period. Park Avenue Securities LLC’s holdings in CBRE Group were worth $3,061,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in 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 shares of CBRE Group in the first quarter worth about $162,576,000. Harris Associates L P increased its stake in CBRE Group by 4.5% in 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 buying an additional 683,225 shares during the period. Eminence Capital LP lifted its holdings in CBRE Group by 42.6% during the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after buying an additional 453,406 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in CBRE Group in the 2nd quarter valued at about $36,820,000. 98.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CBRE. Raymond James lifted 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 note on Thursday, July 25th. 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 price target on the stock. UBS Group lowered their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods boosted 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. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $113.83.

Insider Activity

In other news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now owns 69,226 shares in the company, valued at approximately $7,538,019.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Vikramaditya Kohli sold 1,074 shares of CBRE Group stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the sale, the chief operating officer now directly owns 69,226 shares in the company, valued at approximately $7,538,019.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lindsey S. Caplan sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $109.87, for a total transaction of $219,740.00. Following the sale, the chief accounting officer now directly owns 16,606 shares in the company, valued at $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. In the last quarter, insiders sold 27,232 shares of company stock worth $3,058,787. Insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $120.84 on Friday. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $125.43. The company has a market capitalization of $37.08 billion, a PE ratio of 37.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day simple moving average of $115.65 and a two-hundred day simple moving average of $99.38.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 EPS 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 analyst estimates of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. CBRE Group’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. Research analysts expect that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

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.