CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 5.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 27,059 shares of the financial services provider’s stock after selling 1,500 shares during the period. CBRE Group comprises about 1.0% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 27th largest holding. Meridian Investment Counsel Inc.’s holdings in CBRE Group were worth $3,368,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CBRE. Cetera Investment Advisers lifted its holdings in CBRE Group by 500.1% in the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock valued at $2,718,000 after acquiring an additional 23,290 shares during the period. Natixis lifted its position in shares of CBRE Group by 69.0% during the 1st quarter. Natixis now owns 55,018 shares of the financial services provider’s stock valued at $5,350,000 after buying an additional 22,464 shares in the last quarter. Intech Investment Management LLC grew its stake in CBRE Group by 232.4% in the 1st quarter. Intech Investment Management LLC now owns 13,961 shares of the financial services provider’s stock valued at $1,358,000 after acquiring an additional 9,761 shares during the period. Bayesian Capital Management LP increased its stake in shares of CBRE Group by 138.8% during the first quarter. Bayesian Capital Management LP now owns 9,900 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 5,754 shares in the last quarter. Finally, Czech National Bank raised its position in shares of 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 purchasing an additional 5,125 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 51,244 shares in the company, valued at $5,739,328. This trade represents a 17.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

CBRE Group Stock Down 1.3 %

Shares of NYSE CBRE opened at $130.23 on Friday. CBRE Group, Inc. has a 12-month low of $76.63 and a 12-month high of $137.93. The stock has a market cap of $39.85 billion, a P/E ratio of 41.87 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 business’s fifty day simple moving average is $125.26 and its 200-day simple moving average is $106.89.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts predict that CBRE Group, Inc. will post 4.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CBRE. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Raymond James upped their price target on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI raised their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley began coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Finally, Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and an average target price of $116.83.

About CBRE Group

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.