Kentucky Retirement Systems Sells 1,803 Shares of CBRE Group, Inc. (NYSE:CBRE)

Kentucky Retirement Systems lessened its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,584 shares of the financial services provider’s stock after selling 1,803 shares during the quarter. Kentucky Retirement Systems’ holdings in CBRE Group were worth $2,196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in CBRE Group during the first quarter valued at approximately $30,000. Turtle Creek Wealth Advisors LLC acquired a new stake in CBRE Group during the fourth quarter worth $45,000. Planned Solutions Inc. acquired a new stake in CBRE Group during the fourth quarter worth $52,000. EdgeRock Capital LLC acquired a new stake in CBRE Group during the fourth quarter worth $59,000. Finally, Spartan Planning & Wealth Management acquired a new stake in CBRE Group during the fourth quarter worth $78,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley assumed coverage on CBRE Group in a report on Thursday. They set an “equal weight” rating and a $105.00 price objective for the company. UBS Group decreased their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $123.00 in a research report on Friday. Raymond James boosted their target price on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Finally, Jefferies Financial Group assumed coverage on CBRE Group in a research report on Wednesday, April 10th. They set a “hold” rating and a $107.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.86.

CBRE Group Stock Up 1.0 %

NYSE CBRE traded up $1.07 during trading hours on Monday, reaching $111.62. 966,166 shares of the company’s stock were exchanged, compared to its average volume of 1,671,814. The company’s 50-day moving average is $90.59 and its two-hundred day moving average is $90.07. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $112.24. 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 market capitalization of $34.20 billion, a price-to-earnings ratio of 34.44 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the business earned $0.82 EPS. CBRE Group’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts forecast that CBRE Group, Inc. will post 4.83 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.