Hartford Investment Management Co. Sells 305 Shares of CBRE Group, Inc. (NYSE:CBRE)

Hartford Investment Management Co. cut its stake in CBRE Group, Inc. (NYSE:CBRE) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,006 shares of the financial services provider’s stock after selling 305 shares during the period. Hartford Investment Management Co.’s holdings in CBRE Group were worth $2,366,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. American National Bank & Trust bought a new position in CBRE Group in the 3rd quarter worth about $28,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares during the period. Crewe Advisors LLC bought a new position in CBRE Group in the first quarter worth approximately $30,000. Wolff Wiese Magana LLC increased its holdings in CBRE Group by 2,830.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 283 shares during the period. Finally, Asset Dedication LLC bought a new stake in CBRE Group during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CBRE shares. Evercore ISI increased their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. UBS Group dropped their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, Morgan Stanley initiated coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and an average target price of $113.83.

CBRE Group Trading Up 8.4 %

NYSE CBRE opened at $133.50 on Friday. CBRE Group, Inc. has a 52 week low of $64.63 and a 52 week high of $136.06. The company has a 50 day moving average price of $118.97 and a 200 day moving average price of $101.77. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a market cap of $40.96 billion, a PE ratio of 41.59 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Vikramaditya Kohli sold 1,074 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the transaction, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at $7,538,019.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now owns 69,226 shares in the company, valued at approximately $7,538,019.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,232 shares of company stock worth $2,839,047 in the last ninety days. 0.54% of the stock is owned by insiders.

CBRE Group Company Profile

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.