Kentucky Retirement Systems Insurance Trust Fund Sells 1,045 Shares of CBRE Group, Inc. (NYSE:CBRE)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in CBRE Group, Inc. (NYSE:CBRE) by 9.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,814 shares of the financial services provider’s stock after selling 1,045 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CBRE Group were worth $954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in CBRE Group in the 4th quarter worth approximately $381,164,000. Wellington Management Group LLP increased its stake in shares of CBRE Group by 164.1% during the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after buying an additional 2,799,097 shares during the period. Parnassus Investments LLC purchased a new position in shares of CBRE Group during the fourth quarter valued at approximately $104,277,000. Harris Associates L P increased its stake in shares of CBRE Group by 4.5% during the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after buying an additional 683,225 shares during the period. Finally, Cantillon Capital Management LLC increased its stake in shares of CBRE Group by 13.1% during the fourth quarter. Cantillon Capital Management LLC now owns 5,215,510 shares of the financial services provider’s stock valued at $485,512,000 after buying an additional 603,771 shares during the period. Institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

CBRE has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 target price on the stock. StockNews.com cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. UBS Group reduced their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price target on CBRE Group from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $123.00 in a research note on Friday. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.86.

CBRE Group Stock Up 1.0 %

CBRE Group stock traded up $1.06 during mid-day trading on Monday, hitting $111.61. The company had a trading volume of 1,048,148 shares, compared to its average volume of 1,671,814. The company has a market capitalization of $34.20 billion, a PE ratio of 34.44 and a beta of 1.40. 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, Inc. has a 12 month low of $64.63 and a 12 month high of $112.24. The stock’s 50 day moving average price is $90.59 and its two-hundred day moving average price is $90.07.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, sell-side analysts anticipate that CBRE Group, Inc. will post 4.83 earnings per share for the current fiscal year.

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.