Spire Wealth Management reduced its position in CBRE Group, Inc. (NYSE: CBRE – Get Rating) by 2.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 107,478 shares of the financial services provider’s stock after selling 2,967 shares during the period. Spire Wealth Management’s holdings in CBRE Group were worth $ 9,852,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Bailard Inc. increased its holdings in CBRE Group by 2.6% in the fourth quarter. Bailard Inc. now owns 3,734 shares of the financial services provider’s stock valued at $ 405,000 after buying an additional 96 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of CBRE Group by 1.1% during the third quarter. Cetera Advisors LLC now owns 9,527 shares of the financial services provider’s stock valued at $ 928,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of CBRE Group by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 21,000 shares of the financial services provider’s stock valued at $ 2,279,000 after purchasing an additional 100 shares during the last quarter. James Investment Research Inc. grew its holdings in shares of CBRE Group by 0.3% during the fourth quarter. James Investment Research Inc. now owns 34,240 shares of the financial services provider’s stock valued at $ 3,715,000 after purchasing an additional 110 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of CBRE Group by 1.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 9,456 shares of the financial services provider’s stock valued at $ 1,026,000 after purchasing an additional 111 shares during the last quarter. 96.30% of the stock is owned by hedge funds and other institutional investors.
CBRE opened at $ 73.13 on Monday. CBRE Group, Inc. has a 1-year low of $ 67.68 and a 1-year high of $ 111.00. The business has a 50 day moving average price of $ 79.38 and a two-hundred day moving average price of $ 91.23. The company has a market capitalization of $ 23.90 billion, a price-to-earnings ratio of 12.65 and a beta of 1.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.20 and a quick ratio of 1.20.
CBRE Group (NYSE: CBRE – Get Rating) last announced its earnings results on Thursday, May 5th. The financial services provider reported $ 1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 1.10 by $ 0.29. CBRE Group had a net margin of 6.74% and a return on equity of 25.00%. The company had revenue of $ 7.33 billion for the quarter, compared to the consensus estimate of $ 7.55 billion. During the same period in the previous year, the business earned $ 0.86 EPS. The company revenue was up 23.5% on a year-over-year basis. Equities analysts expect that CBRE Group, Inc. will post 6.31 EPS for the current fiscal year.
In other CBRE Group news, CEO Daniel G. Queenan sold 5,000 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $ 83.16, for a total transaction of $ 415,800.00. Following the transaction, the chief executive officer now directly owns 188,841 shares of the company stock, valued at $ 15,704,017.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.43% of the company stock.
Several research firms have recently commented on CBRE. Wolfe Research lowered their target price on CBRE Group from $ 171.00 to $ 116.00 and set an “outperform” rating for the company in a report on Thursday, March 10th. The Goldman Sachs Group began coverage on CBRE Group in a report on Tuesday, April 5th. They set a “buy” rating and a $ 111.00 target price for the company. Raymond James reduced their price objective on CBRE Group from $ 126.00 to $ 111.00 and set an “outperform” rating for the company in a research report on Tuesday, April 26th. Evercore ISI set a $ 94.00 price objective on CBRE Group in a research report on Monday, June 20th. Finally, StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a research report on Friday, June 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $ 109.40.
CBRE Group Profile: (Get Rating)
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.
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