CBRE Group, Inc. $CBRE Stock Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC trimmed its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 16.2% in the third quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position 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 period. Dimensional Fund Advisors LP lifted its position in CBRE Group by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,896,802 shares of the financial services provider’s stock worth $392,368,000 after purchasing an additional 159,482 shares during the period. Swedbank AB lifted its position in CBRE Group by 119.6% during the first quarter. Swedbank AB now owns 2,571,280 shares of the financial services provider’s stock worth $348,306,000 after purchasing an additional 1,400,452 shares during the period. Sei Investments Co. lifted its position in CBRE Group by 8.7% during the first quarter. Sei Investments Co. now owns 2,181,413 shares of the financial services provider’s stock worth $295,494,000 after purchasing an additional 175,344 shares during the period. Finally, Amundi grew its stake in CBRE Group by 12.1% during the first quarter. Amundi now owns 1,906,456 shares of the financial services provider’s stock worth $258,249,000 after buying an additional 205,493 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Emma Giamartino sold 2,250 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $333,652.50. Following the completion of the transaction, the chief financial officer directly owned 108,479 shares in the company, valued at approximately $16,086,350.91. This represents a 2.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chad J. Doellinger sold 228 shares of the firm’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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.46% of the company’s stock.

CBRE Group Stock Down 0.9%

CBRE Group stock opened at $121.79 on Wednesday. CBRE Group, Inc. has a 12-month low of $121.44 and a 12-month high of $174.27. The business’s 50-day moving average price is $137.84 and its two-hundred day moving average price is $142.53. The stock 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 earnings results on Thursday, October 22nd. The financial services provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.96 by $0.09. The business had revenue of $11.52 billion for the quarter, compared to analyst estimates of $11.81 billion. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. As a group, analysts expect that CBRE Group, Inc. will post 7.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of CBRE Group from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Evercore dropped their target price on shares of CBRE Group from $175.00 to $166.00 and set an “outperform” rating for the company in a research report on Monday, September 28th. Wall Street Zen downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of CBRE Group from $190.00 to $186.00 in a research report on Tuesday, October 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of CBRE Group in a research report on Friday, August 21st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.44.

CBRE Group Company 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.