Meridian Investment Counsel Inc. Cuts Stake in CBRE Group, Inc. (NYSE:CBRE)

Meridian Investment Counsel Inc. decreased its position in CBRE Group, Inc. (NYSE:CBRE) by 5.3% during the 3rd quarter, Holdings Channel reports. The fund owned 27,059 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. CBRE Group comprises about 1.0% of Meridian Investment Counsel Inc.’s holdings, making the stock its 27th biggest position. Meridian Investment Counsel Inc.’s holdings in CBRE Group were worth $3,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers raised its position 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 worth $2,718,000 after acquiring an additional 23,290 shares in the last quarter. Natixis lifted its holdings in shares of CBRE Group by 69.0% in the first quarter. Natixis now owns 55,018 shares of the financial services provider’s stock valued at $5,350,000 after purchasing an additional 22,464 shares in the last quarter. Intech Investment Management LLC grew its holdings in CBRE Group by 232.4% during 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 buying an additional 9,761 shares during the last quarter. Bayesian Capital Management LP boosted 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 valued at $963,000 after acquiring an additional 5,754 shares during the last quarter. Finally, Czech National Bank grew its holdings in shares of CBRE Group by 9.8% during the second quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock worth $5,121,000 after buying an additional 5,125 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the firm’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 transaction, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

CBRE opened at $130.23 on Friday. The company has a market capitalization of $39.85 billion, a P/E ratio of 41.87 and a beta of 1.39. The company has a 50-day moving average of $125.26 and a 200-day moving average of $106.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group, Inc. has a 1-year low of $76.63 and a 1-year high of $137.93.

CBRE Group (NYSE:CBRE) last announced 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 firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Equities analysts expect that CBRE Group, Inc. will post 4.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CBRE. Evercore ISI lifted their price objective on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. 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 report on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley assumed coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target for the company. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.83.

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.