BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 12.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,199 shares of the financial services provider's stock after selling 7,346 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in CBRE Group were worth $6,373,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of CBRE Group by 23.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 885,779 shares of the financial services provider's stock worth $110,262,000 after purchasing an additional 169,310 shares during the period. Verition Fund Management LLC lifted its holdings in CBRE Group by 33.5% during the third quarter. Verition Fund Management LLC now owns 13,422 shares of the financial services provider's stock valued at $1,671,000 after purchasing an additional 3,370 shares during the last quarter. Captrust Financial Advisors raised its holdings in CBRE Group by 4.2% during the 3rd quarter. Captrust Financial Advisors now owns 20,166 shares of the financial services provider's stock valued at $2,510,000 after acquiring an additional 815 shares during the period. Atlantic Union Bankshares Corp raised its holdings in CBRE Group by 27.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 9,218 shares of the financial services provider's stock valued at $1,147,000 after acquiring an additional 1,967 shares during the period. Finally, Waterfront Capital Partners LLC bought a new position in shares of CBRE Group in the third quarter worth $28,707,000. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Price Performance

Shares of CBRE stock traded down $1.26 during trading on Tuesday, hitting $137.13. The company had a trading volume of 1,524,364 shares, compared to its average volume of 1,926,283. The stock has a market capitalization of $41.96 billion, a price-to-earnings ratio of 44.09 and a beta of 1.39. The stock's 50-day moving average is $129.41 and its two-hundred day moving average is $111.24. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a 52 week low of $80.59 and a 52 week high of $142.00.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group's revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, analysts predict that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CBRE. Citigroup increased their price objective on CBRE Group from $130.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Wolfe Research upgraded CBRE Group to a "strong-buy" rating in a research report on Friday, August 16th. Evercore ISI upped their price target on CBRE Group from $123.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods upped their price target on CBRE Group from $125.00 to $138.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.00.

Insider Buying and Selling

In other news, CFO Emma E. Giamartino sold 1,815 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.