CBRE Group, Inc. $CBRE Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its holdings in CBRE Group, Inc. (NYSE:CBRE) by 10.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,432 shares of the financial services provider’s stock after selling 6,096 shares during the period. Illinois Municipal Retirement Fund’s holdings in CBRE Group were worth $7,347,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in CBRE Group in the 1st quarter worth about $26,000. NewSquare Capital LLC lifted its holdings in shares of CBRE Group by 40.7% during the 2nd quarter. NewSquare Capital LLC now owns 235 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 68 shares during the period. Quarry LP lifted its holdings in shares of CBRE Group by 97.4% during the 1st quarter. Quarry LP now owns 298 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 147 shares during the period. Accredited Wealth Management LLC boosted its position in shares of CBRE Group by 338.7% in the first quarter. Accredited Wealth Management LLC now owns 329 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 254 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in CBRE Group in the first quarter valued at approximately $56,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBRE has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CBRE Group in a research note on Wednesday, October 8th. Raymond James Financial lifted their target price on CBRE Group from $163.00 to $166.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $167.00 to $168.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Wall Street Zen upgraded CBRE Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, UBS Group lifted their price objective on CBRE Group from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and an average price target of $171.89.

CBRE Group Price Performance

CBRE stock opened at $154.96 on Wednesday. The stock has a 50-day simple moving average of $157.95 and a 200-day simple moving average of $146.44. The firm has a market cap of $46.12 billion, a P/E ratio of 38.26 and a beta of 1.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group, Inc. has a 1 year low of $108.45 and a 1 year high of $171.00.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.15. CBRE Group had a return on equity of 20.55% and a net margin of 3.12%.The firm had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.11 billion. During the same quarter in the prior year, the business earned $1.20 EPS. CBRE Group’s quarterly revenue was up 13.5% compared to the same quarter last year. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. On average, equities analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

CBRE Group 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.