New York State Teachers Retirement System Lowers Position in CBRE Group, Inc. (NYSE:CBRE)

New York State Teachers Retirement System decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.5% during the third quarter, HoldingsChannel reports. The firm owned 331,659 shares of the financial services provider’s stock after selling 8,608 shares during the period. New York State Teachers Retirement System’s holdings in CBRE Group were worth $41,285,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CBRE. Wealth Enhancement Advisory Services LLC boosted its stake in shares of CBRE Group by 20.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,224 shares of the financial services provider’s stock valued at $1,480,000 after purchasing an additional 2,615 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in CBRE Group by 39.0% during the first quarter. First Trust Direct Indexing L.P. now owns 8,273 shares of the financial services provider’s stock worth $804,000 after buying an additional 2,323 shares during the period. Commonwealth Equity Services LLC boosted its position in CBRE Group by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 10,700 shares of the financial services provider’s stock valued at $1,041,000 after acquiring an additional 242 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of CBRE Group by 5.3% in the 1st quarter. HB Wealth Management LLC now owns 3,775 shares of the financial services provider’s stock valued at $367,000 after acquiring an additional 191 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of CBRE Group by 1.6% in the 1st quarter. Van ECK Associates Corp now owns 19,026 shares of the financial services provider’s stock worth $1,850,000 after acquiring an additional 305 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. UBS Group lowered their price target on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Evercore ISI boosted their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Raymond James lifted their price target 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 research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Insider Transactions at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the transaction, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,232 shares of company stock worth $2,839,047 over the last three months. 0.54% of the stock is currently owned by insiders.

CBRE Group Trading Up 0.8 %

Shares of CBRE Group stock opened at $132.02 on Thursday. The firm’s 50 day simple moving average is $121.02 and its two-hundred day simple moving average is $103.15. The firm has a market capitalization of $40.40 billion, a price-to-earnings ratio of 42.45 and a beta of 1.40. CBRE Group, Inc. has a 12-month low of $67.81 and a 12-month high of $136.06. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s revenue was up 14.8% on a year-over-year basis. Analysts predict that CBRE Group, Inc. will post 4.81 EPS for the current year.

About CBRE Group

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.