Meridian Investment Counsel Inc. Has $3.52 Million Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Meridian Investment Counsel Inc. cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 0.5% during the first quarter, Holdings Channel reports. The fund owned 26,934 shares of the financial services provider’s stock after selling 125 shares during the quarter. CBRE Group comprises about 1.0% of Meridian Investment Counsel Inc.’s holdings, making the stock its 23rd biggest holding. Meridian Investment Counsel Inc.’s holdings in CBRE Group were worth $3,522,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in CBRE Group by 322.9% in the fourth quarter. Brighton Jones LLC now owns 14,492 shares of the financial services provider’s stock worth $1,903,000 after purchasing an additional 11,065 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of CBRE Group by 73.8% during the 4th quarter. Jones Financial Companies Lllp now owns 4,610 shares of the financial services provider’s stock valued at $605,000 after buying an additional 1,957 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CBRE Group during the 4th quarter valued at $25,000. Victory Capital Management Inc. lifted its position in shares of CBRE Group by 16.5% during the 4th quarter. Victory Capital Management Inc. now owns 229,424 shares of the financial services provider’s stock valued at $30,121,000 after buying an additional 32,558 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of CBRE Group by 25.6% during the 4th quarter. Assetmark Inc. now owns 1,441 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 294 shares during the period. 98.41% of the stock is currently owned by institutional investors.

Insider Activity at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,972 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the sale, the chief financial officer owned 105,371 shares in the company, valued at $13,603,396.10. This trade represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chad J. Doellinger sold 494 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $126.05, for a total transaction of $62,268.70. Following the transaction, the insider directly owned 27,945 shares of the company’s stock, valued at $3,522,467.25. The trade was a 1.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,031 shares of company stock valued at $814,080. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CBRE. UBS Group boosted their price objective on CBRE Group from $130.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Wall Street Zen cut CBRE Group from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. JPMorgan Chase & Co. dropped their price objective on CBRE Group from $163.00 to $141.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $129.00 to $131.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $152.11.

CBRE Group Stock Down 0.0%

Shares of NYSE CBRE opened at $142.45 on Friday. The firm has a market capitalization of $42.47 billion, a price-to-earnings ratio of 43.56 and a beta of 1.30. CBRE Group, Inc. has a 52-week low of $87.25 and a 52-week high of $147.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $130.00 and a 200 day moving average price of $131.13.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The firm had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the prior year, the firm earned $0.78 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

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.