State Board of Administration of Florida Retirement System Cuts Position in CBRE Group, Inc. (NYSE:CBRE)

State Board of Administration of Florida Retirement System trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 440,729 shares of the financial services provider’s stock after selling 7,333 shares during the period. State Board of Administration of Florida Retirement System’s holdings in CBRE Group were worth $37,784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swiss National Bank boosted its holdings in shares of CBRE Group by 6.2% during the second quarter. Swiss National Bank now owns 1,368,426 shares of the financial services provider’s stock worth $117,315,000 after purchasing an additional 79,489 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of CBRE Group by 13.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,187 shares of the financial services provider’s stock valued at $5,331,000 after purchasing an additional 7,191 shares in the last quarter. Sfmg LLC increased its stake in shares of CBRE Group by 6.8% during the second quarter. Sfmg LLC now owns 15,788 shares of the financial services provider’s stock valued at $1,354,000 after purchasing an additional 1,003 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CBRE Group during the second quarter valued at approximately $1,412,000. Finally, Cigna Investments Inc. New increased its position in shares of CBRE Group by 3.4% during the first quarter. Cigna Investments Inc. New now owns 12,074 shares of the financial services provider’s stock valued at $955,000 after acquiring an additional 396 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

In other news, COO J. Christopher Kirk sold 18,000 shares of the company’s stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $97.01, for a total value of $1,746,180.00. Following the sale, the chief operating officer now directly owns 141,398 shares of the company’s stock, valued at approximately $13,717,019.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brandon B. Boze sold 341,000 shares of the company’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $32,555,270.00. The disclosure for this sale can be found here. Insiders have sold a total of 661,227 shares of company stock worth $63,439,266 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

CBRE has been the topic of several research reports. Wolfe Research initiated coverage on shares of CBRE Group in a report on Monday, June 14th. They issued an “outperform” rating and a $112.00 target price on the stock. Raymond James lifted their price target on shares of CBRE Group from $93.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $83.00.

Shares of CBRE opened at $96.46 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market capitalization of $32.39 billion, a PE ratio of 27.10, a PEG ratio of 1.83 and a beta of 1.49. The company has a 50 day moving average price of $92.60 and a 200-day moving average price of $86.63. CBRE Group, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $99.73.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Wednesday, July 28th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.58. CBRE Group had a net margin of 4.84% and a return on equity of 20.78%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.05 billion. Equities research analysts forecast that CBRE Group, Inc. will post 4.83 EPS for the current year.

About CBRE Group

CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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