California Public Employees Retirement System Lowers Stock Position in CBRE Group, Inc. (NYSE:CBRE)

California Public Employees Retirement System cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 556,404 shares of the financial services provider’s stock after selling 21,879 shares during the period. California Public Employees Retirement System owned 0.18% of CBRE Group worth $51,796,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CBRE. Principal Financial Group Inc. grew its position in CBRE Group by 15.1% in the 3rd quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock valued at $503,786,000 after buying an additional 894,521 shares during the last quarter. Eminence Capital LP acquired a new position in shares of CBRE Group during the 3rd quarter worth $45,494,000. Harris Associates L P raised its stake in shares of CBRE Group by 4.0% during the 3rd quarter. Harris Associates L P now owns 15,321,916 shares of the financial services provider’s stock worth $1,131,677,000 after buying an additional 586,661 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of CBRE Group by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,824,186 shares of the financial services provider’s stock worth $430,175,000 after buying an additional 294,954 shares during the last quarter. Finally, FMR LLC raised its stake in shares of CBRE Group by 3.1% during the 3rd quarter. FMR LLC now owns 9,465,982 shares of the financial services provider’s stock worth $699,157,000 after buying an additional 288,287 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price target on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a report on Friday, February 16th. Raymond James lifted their price target on CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Jefferies Financial Group began coverage on CBRE Group in a report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price target for the company. Finally, Evercore ISI lifted their price target on CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.50.

CBRE Group Stock Performance

CBRE Group stock opened at $87.01 on Friday. The stock’s 50 day moving average price is $92.25 and its 200 day moving average price is $85.20. The firm has a market capitalization of $26.71 billion, a PE ratio of 27.45 and a beta of 1.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $98.65.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.21 by $0.17. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The firm had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the company posted $1.33 EPS. CBRE Group’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side analysts expect that CBRE Group, Inc. will post 4.45 EPS for the current fiscal year.

Insider Activity at CBRE Group

In related news, CEO John E. Durburg sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the sale, the chief executive officer now directly owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO John E. Durburg sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the sale, the chief executive officer now directly owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.03, for a total value of $1,121,307.75. Following the sale, the chief executive officer now directly owns 127,064 shares in the company, valued at $11,947,827.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,592 shares of company stock valued at $3,675,752. Corporate insiders own 0.54% of the company’s stock.

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.