Oppenheimer Asset Management Inc. Sells 1,373 Shares of CBRE Group, Inc. (NYSE:CBRE)

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in shares of CBRE Group in the 1st quarter worth $336,000. Empowered Funds LLC raised its stake in shares of CBRE Group by 21.6% in the first quarter. Empowered Funds LLC now owns 3,811 shares of the financial services provider’s stock worth $371,000 after buying an additional 678 shares during the period. Bleakley Financial Group LLC lifted its position in shares of CBRE Group by 4.4% during the 1st quarter. Bleakley Financial Group LLC now owns 4,506 shares of the financial services provider’s stock valued at $438,000 after buying an additional 191 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of CBRE Group by 54.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 32,911 shares of the financial services provider’s stock valued at $3,200,000 after acquiring an additional 11,540 shares during the period. Finally, Motco increased its holdings in CBRE Group by 17,224.1% in the 1st quarter. Motco now owns 5,024 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 4,995 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 51,244 shares in the company, valued at $5,739,328. This trade represents a 17.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group 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 transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

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

CBRE Group Stock Performance

NYSE:CBRE opened at $132.02 on Friday. The company has a market cap of $40.40 billion, a price-to-earnings ratio of 42.45 and a beta of 1.39. CBRE Group, Inc. has a 1 year low of $76.63 and a 1 year high of $137.93. The stock’s 50 day simple moving average is $124.57 and its two-hundred day simple moving average is $106.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. CBRE Group’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities 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.