Verdence Capital Advisors LLC Sells 5,646 Shares of CBRE Group, Inc. $CBRE

Verdence Capital Advisors LLC lessened its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 16.2% during the third quarter, Holdings Channel.com reports. The firm owned 29,236 shares of the financial services provider’s stock after selling 5,646 shares during the quarter. Verdence Capital Advisors LLC’s holdings in CBRE Group were worth $3,756,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Apollon Wealth Management LLC lifted its holdings in CBRE Group by 36.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,960 shares of the financial services provider’s stock worth $894,000 after buying an additional 1,843 shares during the period. Signaturefd LLC increased its stake in shares of CBRE Group by 4.3% in the third quarter. Signaturefd LLC now owns 6,257 shares of the financial services provider’s stock valued at $804,000 after buying an additional 257 shares during the period. Citizens Financial Group Inc. RI raised its position in shares of CBRE Group by 138.3% during the third quarter. Citizens Financial Group Inc. RI now owns 12,971 shares of the financial services provider’s stock worth $1,666,000 after acquiring an additional 7,529 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of CBRE Group by 5.2% during the third quarter. Evergreen Capital Management LLC now owns 3,168 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 156 shares during the last quarter. Finally, Tectonic Advisors LLC raised its position in shares of CBRE Group by 7.2% during the third quarter. Tectonic Advisors LLC now owns 17,075 shares of the financial services provider’s stock worth $2,194,000 after acquiring an additional 1,144 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CBRE shares. Jefferies Financial Group cut their price objective on CBRE Group from $180.00 to $164.00 in a research note on Monday, October 12th. Evercore reduced their target price on CBRE Group from $175.00 to $166.00 and set an “outperform” rating on the stock in a report on Monday, September 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of CBRE Group in a research report on Friday, August 21st. Barclays raised their price target on shares of CBRE Group from $180.00 to $183.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, UBS Group boosted their price target on shares of CBRE Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and an average target price of $185.44.

Insider Activity

In other news, insider Chad Doellinger sold 228 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $148.29, for a total value of $33,810.12. Following the transaction, the insider owned 41,778 shares of the company’s stock, valued at approximately $6,195,259.62. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Emma E. Giamartino sold 2,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $148.29, for a total transaction of $333,652.50. Following the completion of the sale, the chief financial officer directly owned 108,479 shares in the company, valued at $16,086,350.91. This represents a 2.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 Stock Down 0.9%

Shares of CBRE Group stock opened at $121.79 on Wednesday. The business has a 50 day moving average price of $137.84 and a 200-day moving average price of $142.53. CBRE Group, Inc. has a 52 week low of $121.44 and a 52 week high of $174.27. The company has a market cap of $35.10 billion, a PE ratio of 26.08 and a beta of 1.23.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.09. The business had revenue of $11.52 billion for the quarter, compared to the consensus estimate of $11.81 billion. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. As a group, research analysts anticipate that CBRE Group, Inc. will post 7.76 EPS for the current year.

About CBRE Group

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.