PNC Financial Services Group Inc. Has $13.32 Million Stake in CBRE Group, Inc. (NYSE:CBRE)

PNC Financial Services Group Inc. reduced its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,004 shares of the financial services provider’s stock after selling 1,824 shares during the period. PNC Financial Services Group Inc.’s holdings in CBRE Group were worth $13,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in shares of CBRE Group by 500.1% during 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 in the last quarter. Bayesian Capital Management LP increased its stake in CBRE Group by 138.8% during the 1st quarter. Bayesian Capital Management LP now owns 9,900 shares of the financial services provider’s stock worth $963,000 after acquiring an additional 5,754 shares during the period. Czech National Bank increased its stake in CBRE Group by 9.8% during the 2nd quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock worth $5,121,000 after acquiring an additional 5,125 shares during the period. Capital World Investors raised its holdings in CBRE Group by 194.7% in the 1st quarter. Capital World Investors now owns 156,366 shares of the financial services provider’s stock valued at $15,205,000 after acquiring an additional 103,300 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of CBRE Group by 7.4% during the 1st quarter. Comerica Bank now owns 91,518 shares of the financial services provider’s stock valued at $8,899,000 after acquiring an additional 6,337 shares during the period. 98.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Evercore ISI increased their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CBRE Group has an average rating of “Moderate Buy” and an average price target of $116.83.

CBRE Group Stock Up 2.9 %

CBRE stock opened at $135.43 on Friday. The stock has a market capitalization of $41.44 billion, a P/E ratio of 43.55 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $126.83 and a 200-day moving average price of $108.50. CBRE Group, Inc. has a 12 month low of $77.97 and a 12 month high of $137.93.

CBRE Group (NYSE:CBRE) last issued its earnings results 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 analyst estimates of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. As a group, equities research analysts anticipate that CBRE Group, Inc. will post 4.94 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.