Kentucky Retirement Systems Lowers Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Kentucky Retirement Systems trimmed its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,984 shares of the financial services provider’s stock after selling 1,744 shares during the period. Kentucky Retirement Systems’ holdings in CBRE Group were worth $2,612,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CBRE. Empowered Funds LLC boosted its holdings in CBRE Group by 10.3% in the 3rd quarter. Empowered Funds LLC now owns 4,774 shares of the financial services provider’s stock worth $594,000 after acquiring an additional 446 shares during the period. Empirical Finance LLC increased its holdings in shares of CBRE Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 10,675 shares of the financial services provider’s stock valued at $1,329,000 after acquiring an additional 184 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in CBRE Group during the third quarter worth $398,000. CIBC Asset Management Inc boosted its holdings in CBRE Group by 22.2% in the third quarter. CIBC Asset Management Inc now owns 49,810 shares of the financial services provider’s stock worth $6,200,000 after purchasing an additional 9,051 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in CBRE Group by 5.4% during the third quarter. OneDigital Investment Advisors LLC now owns 3,521 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 181 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Price Performance

CBRE opened at $130.23 on Monday. The stock has a market cap of $39.85 billion, a price-to-earnings ratio of 41.87 and a beta of 1.39. The stock has a fifty day moving average price of $125.26 and a 200 day moving average price of $107.18. CBRE Group, Inc. has a 1 year low of $76.63 and a 1 year high of $137.93. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion during 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%. CBRE Group’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Analysts forecast that CBRE Group, Inc. will post 4.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were 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 directly owns 217,094 shares in the company, valued at approximately $24,894,168.98. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction 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 directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. This represents a 17.47 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

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.