Morgan Stanley lessened its holdings in CBRE Group Inc (NYSE:CBRE) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 547,052 shares of the financial services provider’s stock after selling 39,428 shares during the period. Morgan Stanley’s holdings in CBRE Group were worth $20,629,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. EPG Wealth Management LLC purchased a new position in CBRE Group in the first quarter valued at about $26,000. Patriot Financial Group Insurance Agency LLC increased its position in CBRE Group by 1,055.7% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 809 shares of the financial services provider’s stock worth $31,000 after buying an additional 739 shares during the last quarter. Pearl River Capital LLC bought a new stake in shares of CBRE Group in the first quarter valued at $32,000. Harbor Investment Advisory LLC purchased a new position in shares of CBRE Group during the 1st quarter valued at $33,000. Finally, Ellevest Inc. increased its holdings in CBRE Group by 74.8% in the 1st quarter. Ellevest Inc. now owns 1,157 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 495 shares during the last quarter. 92.99% of the stock is owned by institutional investors.
CBRE has been the subject of a number of research reports. UBS Group cut their target price on shares of CBRE Group from $59.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. TheStreet lowered shares of CBRE Group from a “b-” rating to a “c+” rating in a research note on Friday, April 3rd. Cfra cut shares of CBRE Group from a “hold” rating to a “sell” rating and lowered their target price for the company from $57.00 to $35.00 in a report on Friday, May 8th. Keefe, Bruyette & Woods cut their price target on CBRE Group from $52.00 to $51.00 and set a “market perform” rating for the company in a report on Friday, May 8th. Finally, ValuEngine raised CBRE Group from a “sell” rating to a “hold” rating in a report on Thursday, June 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.38.
CBRE opened at $44.24 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.20. CBRE Group Inc has a one year low of $29.17 and a one year high of $64.75. The firm has a market capitalization of $14.83 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.58 and a beta of 1.73. The company has a fifty day moving average price of $44.42 and a 200-day moving average price of $50.57.
CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. CBRE Group had a return on equity of 21.37% and a net margin of 5.23%. The business had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. On average, analysts expect that CBRE Group Inc will post 2.54 earnings per share for the current year.
In other news, COO J. Christopher Kirk sold 19,500 shares of CBRE Group stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $53.51, for a total transaction of $1,043,445.00. Following the completion of the sale, the chief operating officer now directly owns 145,327 shares of the company’s stock, valued at approximately $7,776,447.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shira Goodman bought 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $38.73 per share, with a total value of $100,698.00. Following the completion of the transaction, the director now directly owns 4,228 shares of the company’s stock, valued at approximately $163,750.44. The disclosure for this purchase can be found here. Insiders have sold 162,212 shares of company stock valued at $7,109,705 in the last three months. 0.80% of the stock is owned by insiders.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.
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