Public Employees Retirement System of Ohio Cuts Holdings in CBRE Group, Inc. $CBRE

Public Employees Retirement System of Ohio decreased its stake in CBRE Group, Inc. (NYSE:CBRE) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,379 shares of the financial services provider’s stock after selling 7,003 shares during the period. Public Employees Retirement System of Ohio’s holdings in CBRE Group were worth $15,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CBRE. Norges Bank purchased a new position in CBRE Group in the fourth quarter worth $643,405,000. Swedbank AB raised 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 valued at $348,306,000 after purchasing an additional 1,400,452 shares in the last quarter. Viking Global Investors LP purchased a new stake in CBRE Group during the third quarter valued at about $190,648,000. Northwestern Mutual Wealth Management Co. lifted its stake in CBRE Group by 5,115.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,017,355 shares of the financial services provider’s stock worth $163,581,000 after purchasing an additional 997,848 shares during the last quarter. Finally, XN LP bought a new stake in CBRE Group during the fourth quarter worth about $147,134,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CBRE shares. Jefferies Financial Group reiterated a “buy” rating on shares of CBRE Group in a research report on Friday, May 15th. UBS Group reaffirmed a “buy” rating on shares of CBRE Group in a research note on Wednesday, June 17th. Weiss Ratings lowered CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays lifted their price target on shares of CBRE Group from $175.00 to $178.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.86.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $130.74, for a total transaction of $294,165.00. Following the transaction, the chief financial officer directly owned 110,729 shares in the company, valued at $14,476,709.46. This trade represents a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by corporate insiders.

CBRE Group Stock Up 2.9%

Shares of NYSE:CBRE opened at $139.50 on Friday. The stock’s 50-day moving average price is $134.36 and its 200-day moving average price is $143.99. CBRE Group, Inc. has a 12-month low of $121.69 and a 12-month high of $174.27. The stock has a market capitalization of $40.85 billion, a P/E ratio of 31.78 and a beta of 1.20. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.13 by $0.48. CBRE Group had a return on equity of 24.08% and a net margin of 3.11%.The firm had revenue of $10.53 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities analysts anticipate that CBRE Group, Inc. will post 7.75 earnings per share for the current year.

CBRE Group Company Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.