Verdence Capital Advisors LLC Reduces Position in CBRE Group, Inc. (NYSE:CBRE)

Verdence Capital Advisors LLC lowered its position in CBRE Group, Inc. (NYSE:CBRE) by 24.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,404 shares of the financial services provider’s stock after selling 3,318 shares during the quarter. Verdence Capital Advisors LLC’s holdings in CBRE Group were worth $1,295,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers grew its holdings in shares of CBRE Group by 500.1% in the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock valued at $2,718,000 after purchasing an additional 23,290 shares during the period. Natixis grew its holdings in shares of CBRE Group by 69.0% in the first quarter. Natixis now owns 55,018 shares of the financial services provider’s stock valued at $5,350,000 after purchasing an additional 22,464 shares during the period. Quantbot Technologies LP purchased a new stake in shares of CBRE Group in the first quarter valued at about $1,118,000. Intech Investment Management LLC grew its holdings in shares of CBRE Group by 232.4% in the first quarter. Intech Investment Management LLC now owns 13,961 shares of the financial services provider’s stock valued at $1,358,000 after purchasing an additional 9,761 shares during the period. Finally, Bayesian Capital Management LP grew its holdings in shares of CBRE Group by 138.8% in the first quarter. Bayesian Capital Management LP now owns 9,900 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 5,754 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Up 3.1 %

Shares of CBRE opened at $136.08 on Friday. The stock has a market capitalization of $41.64 billion, a PE ratio of 43.76 and a beta of 1.39. CBRE Group, Inc. has a 1 year low of $71.96 and a 1 year high of $137.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The company’s 50-day simple moving average is $123.38 and its 200-day simple moving average is $105.29.

CBRE Group (NYSE:CBRE) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Analysts forecast that CBRE Group, Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $360,534.79. Following the completion of the transaction, the chief financial officer now owns 71,969 shares in the company, valued at $7,836,704.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group 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 completion of the transaction, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $360,534.79. Following the completion of the transaction, the chief financial officer now owns 71,969 shares of the company’s stock, valued at $7,836,704.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,232 shares of company stock valued at $2,839,047 over the last 90 days. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley began coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Keefe, Bruyette & Woods upped 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 report on Tuesday, October 29th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI upped their target price on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Raymond James upped their target price on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.83.

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.