Park Place Capital Corp Sells 281 Shares of CBRE Group, Inc. (NYSE:CBRE)

Park Place Capital Corp trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 30.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 642 shares of the financial services provider’s stock after selling 281 shares during the period. Park Place Capital Corp’s holdings in CBRE Group were worth $57,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CBRE. Arizona State Retirement System raised its stake in shares of CBRE Group by 0.4% during the fourth quarter. Arizona State Retirement System now owns 85,156 shares of the financial services provider’s stock worth $7,927,000 after buying an additional 354 shares during the last quarter. International Assets Investment Management LLC bought a new stake in CBRE Group in the fourth quarter valued at approximately $42,460,000. Mirae Asset Global Investments Co. Ltd. increased its stake in CBRE Group by 4.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,486 shares of the financial services provider’s stock valued at $8,144,000 after purchasing an additional 3,370 shares in the last quarter. Retireful LLC bought a new stake in CBRE Group in the fourth quarter valued at approximately $1,915,000. Finally, Equitable Trust Co. increased its stake in CBRE Group by 0.9% in the fourth quarter. Equitable Trust Co. now owns 35,495 shares of the financial services provider’s stock valued at $3,304,000 after purchasing an additional 310 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Stock Performance

NYSE:CBRE traded down $2.01 during mid-day trading on Friday, reaching $110.38. 1,810,196 shares of the company’s stock were exchanged, compared to its average volume of 1,829,488. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $114.51. The firm has a market capitalization of $33.82 billion, a PE ratio of 34.39 and a beta of 1.40. The business’s fifty day simple moving average is $92.84 and its two-hundred day simple moving average is $91.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same period last year, the firm earned $0.82 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that CBRE Group, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Lindsey S. Caplan sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the sale, the chief accounting officer now directly owns 16,606 shares in the company, valued at approximately $1,824,501.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CBRE. Jefferies Financial Group began coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price for the company. Keefe, Bruyette & Woods upped 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. Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $100.00 to $123.00 in a report on Friday, July 26th. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Raymond James increased their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.29.

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.