Blueshift Asset Management LLC Cuts Holdings in CBRE Group, Inc. (NYSE:CBRE)

Blueshift Asset Management LLC decreased its holdings in CBRE Group, Inc. (NYSE:CBRE) by 69.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,974 shares of the financial services provider’s stock after selling 11,504 shares during the period. Blueshift Asset Management LLC’s holdings in CBRE Group were worth $619,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Canton Hathaway LLC bought a new stake in CBRE Group in the 3rd quarter worth about $27,000. American National Bank & Trust purchased a new stake in shares of CBRE Group during the 3rd quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of 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 acquiring an additional 215 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of CBRE Group during the third quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC lifted its position in CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 283 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

NYSE CBRE opened at $140.76 on Thursday. The business’s fifty day moving average is $128.07 and its 200 day moving average is $109.74. CBRE Group, Inc. has a fifty-two week low of $78.18 and a fifty-two week high of $142.00. 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 has a market capitalization of $43.07 billion, a PE ratio of 45.26 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the previous year, the company posted $0.72 EPS. The firm’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insider Transactions at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the business’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 transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

CBRE has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Evercore ISI raised their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.00.

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.