CBRE Group, Inc. $CBRE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in CBRE Group, Inc. (NYSE:CBRE) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 611,783 shares of the financial services provider’s stock after selling 32,076 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of CBRE Group worth $78,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CBRE. Principal Financial Group Inc. raised its stake in shares of CBRE Group by 3.2% in the first quarter. Principal Financial Group Inc. now owns 9,870,413 shares of the financial services provider’s stock worth $1,337,051,000 after purchasing an additional 302,426 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in CBRE Group by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,896,802 shares of the financial services provider’s stock worth $392,368,000 after acquiring an additional 159,482 shares during the last quarter. Swedbank AB grew its stake in shares of CBRE Group by 119.6% in the 1st quarter. Swedbank AB now owns 2,571,280 shares of the financial services provider’s stock worth $348,306,000 after acquiring an additional 1,400,452 shares in the last quarter. Sei Investments Co. grew its stake in shares of CBRE Group by 8.7% in the 1st quarter. Sei Investments Co. now owns 2,181,413 shares of the financial services provider’s stock worth $295,494,000 after acquiring an additional 175,344 shares in the last quarter. Finally, Amundi raised its holdings in shares of CBRE Group by 12.1% in the first quarter. Amundi now owns 1,906,456 shares of the financial services provider’s stock valued at $258,249,000 after purchasing an additional 205,493 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

Insider Activity

In other CBRE Group news, insider Chad Doellinger sold 228 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $148.29, for a total transaction of $33,810.12. Following the completion of the sale, the insider directly owned 41,778 shares in the company, valued at approximately $6,195,259.62. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Emma E. Giamartino sold 2,250 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $148.29, for a total value of $333,652.50. Following the sale, the chief financial officer directly owned 108,479 shares in the company, valued at $16,086,350.91. This trade represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.46% of the company’s stock.

CBRE Group Trading Down 1.0%

CBRE opened at $135.43 on Wednesday. The stock has a market cap of $39.03 billion, a PE ratio of 17.20 and a beta of 1.24. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average of $135.75 and a 200-day moving average of $141.66. CBRE Group, Inc. has a 52 week low of $121.44 and a 52 week high of $174.27.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.09. CBRE Group had a net margin of 3.08% and a return on equity of 26.31%. The business had revenue of $11.52 billion during the quarter, compared to the consensus estimate of $11.81 billion. During the same quarter last year, the firm earned $1.61 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts predict that CBRE Group, Inc. will post 7.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CBRE. Keefe, Bruyette & Woods cut their target price on CBRE Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CBRE Group in a research report on Friday, August 21st. Jefferies Financial Group reduced their price objective on CBRE Group from $180.00 to $164.00 in a research note on Monday, October 12th. Evercore dropped their target price on shares of CBRE Group from $175.00 to $166.00 and set an “outperform” rating on the stock in a research note on Monday, September 28th. Finally, UBS Group raised their price objective on shares of CBRE Group from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.78.

CBRE Group Profile

CBRE Group, Inc (NYSE:CBRE) is a global commercial real estate services and investment firm. The company provides advisory, transaction, property management, facilities management, project management, valuation, and consulting services to corporate, institutional, and other real estate clients.

Its businesses support the acquisition, development, leasing, operation, and disposition of commercial properties across sectors such as office, industrial and logistics, retail, multifamily, hospitality, and data centers.