IBM Retirement Fund holds $488,000 stake in CBRE Group, Inc. (NYSE:CBRE)
IBM Retirement Fund reduced its position in CBRE Group, Inc. (NYSE: CBRE – Get Rating) by 4.0% in the first quarter, HoldingsChannel.com reports. The company held 5,337 shares of the financial services provider after selling 222 shares during the period. IBM Retirement Fund’s holdings in CBRE Group were worth $488,000 when it last filed with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently changed their holdings in the company. Amplius Wealth Advisors LLC purchased a new stake in CBRE Group in the fourth quarter for $28,000. CVA Family Office LLC purchased a new stake in CBRE Group in the fourth quarter at a value of $41,000. Confluence Wealth Services Inc. acquired a new stake in CBRE Group in the fourth quarter valued at $46,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in CBRE Group by 71.7% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 515 shares of the financial services provider valued at $56,000 after acquiring an additional 215 shares during the period. Finally, Covestor Ltd bought a new stake in the CBRE group in the fourth quarter at a value of $66,000. Institutional investors and hedge funds own 96.30% of the company’s shares.
In other news, CEO Daniel G. Queenan sold 5,000 shares of the company in a trade on Wednesday, June 1. The stock was sold at an average price of $83.16, for a total transaction of $415,800.00. As a result of the transaction, the CEO now owns 188,841 shares of the company, valued at $15,704,017.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.43% of the company’s shares.
Shares of CBRE opened at $73.13 on Monday. The stock’s fifty-day moving average is $79.38 and its 200-day moving average is $91.23. The company has a debt ratio of 0.16, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $23.90 billion, a PE ratio of 12.65 and a beta of 1.36. CBRE Group, Inc. has a 52-week low of $67.68 and a 52-week high of $111.00.
The CBRE Group (NYSE:CBRE – Get Rating) last released its quarterly results on Thursday, May 5. The financial services provider reported earnings per share (EPS) of $1.39 for the quarter, beating the consensus estimate of $1.10 by $0.29. The CBRE group achieved a return on equity of 25.00% and a net margin of 6.74%. The company posted revenue of $7.33 billion for the quarter, versus analyst estimates of $7.55 billion. In the same quarter a year earlier, the company posted earnings per share of $0.86. The company’s revenue for the quarter increased by 23.5% compared to the same quarter last year. As a group, analysts expect CBRE Group, Inc. to post earnings per share of 6.31 for the current fiscal year.
A number of brokerages have weighed in on CBRE. StockNews.com upgraded the CBRE group from a “buy” to a “hold” rating in a Friday, June 17 research report. Wolfe Research lowered its price target on the CBRE Group from $171.00 to $116.00 and set an “outperform” rating on the stock in a Thursday, March 10 research report. Raymond James lowered its price target on the CBRE Group from $126.00 to $111.00 and gave the stock an “outperform” rating in a Tuesday, April 26 research report. Evercore ISI set a target price of $94.00 on the CBRE group in a Monday, June 20 report. Finally, the Goldman Sachs group began covering the CBRE group in a report on Tuesday, April 5. They set a “buy” rating and a target price of $111.00 on the stock. One equity research analyst gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.40.
CBRE Group Company Profile (Get an evaluation)
CBRE Group, Inc operates as a worldwide commercial real estate and investment services company. It operates through three segments: Consulting Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services segment provides strategic advice and execution to owners, investors and occupiers of real estate in connection with leasing; real estate sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, construction engineering, accounting and financial services for owners and investors of office, industrial and retail properties; and appraisal services which include market value appraisals, litigation support, discounted cash flow analyzes and feasibility studies, as well as advisory services, such as property condition reports , hotel advice and environmental advice.
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