Holocene Advisors LP Lowers Stake in CBRE Group, Inc. (NYSE:CBRE)

Holocene Advisors LP cut its position in CBRE Group, Inc. (NYSE:CBRE) by 35.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 684,117 shares of the financial services provider’s stock after selling 374,590 shares during the period. Holocene Advisors LP owned about 0.22% of CBRE Group worth $85,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in CBRE Group by 4.7% in the 3rd quarter. Lindbrook Capital LLC now owns 1,750 shares of the financial services provider’s stock worth $218,000 after buying an additional 79 shares in the last quarter. Stephens Inc. AR grew its holdings in CBRE Group by 3.1% during the 3rd quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock valued at $329,000 after buying an additional 80 shares in the last quarter. Fidelis Capital Partners LLC raised its position in shares of CBRE Group by 2.1% during the third quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock valued at $492,000 after buying an additional 82 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of CBRE Group by 1.2% in the third quarter. Private Advisor Group LLC now owns 7,688 shares of the financial services provider’s stock worth $957,000 after buying an additional 90 shares in the last quarter. Finally, Community Bank & Trust Waco Texas boosted its position in shares of CBRE Group by 0.6% during the third quarter. Community Bank & Trust Waco Texas now owns 15,280 shares of the financial services provider’s stock worth $1,902,000 after acquiring an additional 93 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Price Performance

Shares of CBRE opened at $141.41 on Monday. The stock has a market capitalization of $43.27 billion, a PE ratio of 45.01 and a beta of 1.39. The company has a 50 day moving average price of $128.80 and a 200-day moving average price of $110.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group, Inc. has a fifty-two week low of $80.59 and a fifty-two week high of $142.00.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. During the same period in the previous year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CBRE. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Citigroup raised their price target on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI boosted their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods upped their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Buying and Selling at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares in the company, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

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.