Findlay Park Partners LLP reduced its holdings in CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,574,845 shares of the financial services provider's stock after selling 217,356 shares during the quarter. CBRE Group comprises 1.8% of Findlay Park Partners LLP's investment portfolio, making the stock its 23rd biggest holding. Findlay Park Partners LLP owned 0.80% of CBRE Group worth $189,534,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. National Pension Service lifted its holdings in shares of CBRE Group by 3.2% in the 2nd quarter. National Pension Service now owns 510,483 shares of the financial services provider's stock valued at $37,577,000 after buying an additional 15,597 shares during the period. First Republic Investment Management Inc. raised its holdings in CBRE Group by 118.2% during the second quarter. First Republic Investment Management Inc. now owns 82,450 shares of the financial services provider's stock worth $6,069,000 after purchasing an additional 44,660 shares during the last quarter. Captrust Financial Advisors raised its holdings in CBRE Group by 34.7% during the second quarter. Captrust Financial Advisors now owns 21,835 shares of the financial services provider's stock worth $1,607,000 after purchasing an additional 5,624 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in CBRE Group by 29.1% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,587 shares of the financial services provider's stock worth $411,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its holdings in CBRE Group by 98.7% during the second quarter. Meiji Yasuda Life Insurance Co now owns 4,792 shares of the financial services provider's stock worth $353,000 after purchasing an additional 2,380 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Evercore ISI reduced their price objective on CBRE Group to $95.00 in a report on Friday, September 30th. Raymond James reduced their price objective on CBRE Group from $113.00 to $105.00 and set a "strong-buy" rating for the company in a report on Thursday, October 20th. The Goldman Sachs Group reduced their price objective on CBRE Group from $98.00 to $88.00 and set a "buy" rating for the company in a report on Wednesday, October 19th. StockNews.com assumed coverage on CBRE Group in a report on Wednesday, October 12th. They issued a "hold" rating for the company. Finally, UBS Group cut their price target on CBRE Group from $95.00 to $86.00 in a report on Wednesday, September 21st.
CBRE Group Stock Performance
NYSE CBRE opened at $75.84 on Friday. CBRE Group, Inc. has a fifty-two week low of $66.31 and a fifty-two week high of $111.00. The stock has a market cap of $23.96 billion, a price-to-earnings ratio of 12.51 and a beta of 1.37. The business has a fifty day moving average of $73.11 and a 200-day moving average of $76.41. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.17.
CBRE Group (NYSE:CBRE – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The financial services provider reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.11). The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $7.90 billion. CBRE Group had a return on equity of 24.11% and a net margin of 6.47%. As a group, analysts predict that CBRE Group, Inc. will post 5.57 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Daniel G. Queenan sold 5,000 shares of CBRE Group stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $80.08, for a total value of $400,400.00. Following the completion of the sale, the chief executive officer now owns 178,841 shares of the company's stock, valued at $14,321,587.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.43% of the company's stock.
CBRE Group Profile
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CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.
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