Kentucky Retirement Systems Sells 1,744 Shares of CBRE Group, Inc. (NYSE:CBRE)

Kentucky Retirement Systems lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 7.7% in the third quarter, according to its most recent disclosure with the SEC. 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 filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in shares of CBRE Group during the 1st quarter valued at about $336,000. Empowered Funds LLC grew its stake in shares of CBRE Group by 21.6% in the 1st quarter. Empowered Funds LLC now owns 3,811 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 678 shares during the period. Intech Investment Management LLC raised its holdings in shares of CBRE Group by 232.4% in the first 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. O Shaughnessy Asset Management LLC lifted its position in CBRE Group by 14.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 21,132 shares of the financial services provider’s stock worth $2,055,000 after buying an additional 2,673 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in CBRE Group by 112.9% during the 1st quarter. Lake Street Advisors Group LLC now owns 5,181 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 2,747 shares during the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley initiated coverage on CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. Raymond James raised their target price on shares of 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 objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods upped 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. Finally, Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

Insider Activity

In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the business’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 value of $1,214,864.00. Following the sale, the director now owns 51,244 shares in the company, valued at approximately $5,739,328. The trade was a 17.47 % decrease in their position. The transaction 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 stock was 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 directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Stock Performance

CBRE stock opened at $130.23 on Monday. 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. The firm has a market cap of $39.85 billion, a PE ratio of 41.87 and a beta of 1.39. The business’s 50-day moving average price is $125.26 and its two-hundred day moving average price is $107.18.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. During the same quarter in the previous year, the business posted $0.72 EPS. CBRE Group’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts forecast that CBRE Group, Inc. will post 4.94 earnings per share for the current year.

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.