Olstein Capital Management L.P. Has $8.84 Million Position in CBRE Group, Inc. (NYSE:CBRE)

Olstein Capital Management L.P. reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,000 shares of the financial services provider's stock after selling 15,000 shares during the quarter. CBRE Group comprises approximately 1.5% of Olstein Capital Management L.P.'s holdings, making the stock its 19th largest position. Olstein Capital Management L.P.'s holdings in CBRE Group were worth $8,838,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American National Bank & Trust acquired a new stake in CBRE Group in the 3rd quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew its stake in shares of CBRE Group by 2,830.0% in the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider's stock worth $36,000 after purchasing an additional 283 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of CBRE Group during the first quarter valued at $30,000. Asset Dedication LLC bought a new stake in shares of CBRE Group during the third quarter valued at about $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider's stock worth $29,000 after purchasing an additional 215 shares during the period. 98.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CBRE shares. Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. Morgan Stanley initiated coverage on CBRE Group in a research report on Thursday, July 25th. They issued an "equal weight" rating and a $105.00 target price for the company. Evercore ISI increased their price target on CBRE Group from $123.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Raymond James boosted their price objective on CBRE Group from $122.00 to $124.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 25th. Finally, Wolfe Research raised CBRE Group to a "strong-buy" rating in a research note on Friday, August 16th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $116.83.

CBRE Group Trading Up 2.0 %

Shares of NYSE CBRE traded up $2.65 during mid-day trading on Thursday, hitting $132.05. 2,405,884 shares of the company traded hands, compared to its average volume of 1,662,568. The business has a 50 day moving average of $122.61 and a two-hundred day moving average of $104.75. The stock has a market capitalization of $40.41 billion, a price-to-earnings ratio of 42.46 and a beta of 1.39. CBRE Group, Inc. has a 1 year low of $71.96 and a 1 year high of $136.92. 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 (NYSE:CBRE - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The firm's quarterly revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that CBRE Group, Inc. will post 5.02 earnings per share for the current fiscal year.

Insider Activity at CBRE Group

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $360,534.79. Following the completion of the sale, the chief financial officer now directly owns 71,969 shares of the company's stock, valued at approximately $7,836,704.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,232 shares of company stock valued at $2,839,047. Company insiders own 0.54% of the company's stock.

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.