Oppenheimer Asset Management Inc. Decreases Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Oppenheimer Asset Management Inc. lowered its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,878 shares of the financial services provider’s stock after selling 1,373 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CBRE Group were worth $5,088,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CBRE. Swedbank AB purchased a new stake in shares of CBRE Group during the first quarter worth about $162,576,000. Robeco Institutional Asset Management B.V. grew its position in shares of CBRE Group by 60.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after buying an additional 993,963 shares during the last quarter. Eminence Capital LP increased its stake in shares of CBRE Group by 42.6% during the second quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after buying an additional 453,406 shares during the period. Maverick Capital Ltd. bought a new position in shares of CBRE Group during the second quarter valued at approximately $36,820,000. Finally, Delta Global Management LP lifted its stake in CBRE Group by 266.2% in the first quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock worth $52,877,000 after acquiring an additional 395,297 shares during the period. Institutional investors own 98.41% of the company’s stock.

Insider Buying and Selling at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. This trade represents a 17.47 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley began coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Raymond James increased their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI lifted their price objective on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods increased their target price on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

CBRE Group Stock Performance

Shares of CBRE opened at $132.02 on Friday. CBRE Group, Inc. has a 52 week low of $76.63 and a 52 week high of $137.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market cap of $40.40 billion, a P/E ratio of 42.45 and a beta of 1.39. The business’s 50 day moving average price is $124.57 and its 200-day moving average price is $106.42.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities research analysts anticipate that CBRE Group, Inc. will post 4.96 earnings per share for the current fiscal year.

CBRE Group 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.