Sanctuary Advisors LLC Trims Position in CBRE Group, Inc. (NYSE:CBRE)

Sanctuary Advisors LLC lessened its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 0.5% in the third quarter, Holdings Channel reports. The fund owned 19,574 shares of the financial services provider’s stock after selling 105 shares during the quarter. Sanctuary Advisors LLC’s holdings in CBRE Group were worth $2,651,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of CBRE. Wealth Enhancement Advisory Services LLC increased its position in CBRE Group by 9.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,721 shares of the financial services provider’s stock valued at $1,490,000 after acquiring an additional 1,497 shares during the last quarter. First Horizon Advisors Inc. increased its position in CBRE Group by 18.1% during the second quarter. First Horizon Advisors Inc. now owns 941 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 144 shares during the last quarter. Summit Global Investments increased its position in CBRE Group by 46.2% during the second quarter. Summit Global Investments now owns 5,347 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 1,689 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in CBRE Group during the second quarter valued at $258,000. Finally, Premier Path Wealth Partners LLC purchased a new stake in CBRE Group during the second quarter valued at $201,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,815 shares of the business’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 owns 70,154 shares in the company, valued at $9,214,026.36. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

NYSE:CBRE opened at $135.85 on Wednesday. The firm has a market capitalization of $41.57 billion, a price-to-earnings ratio of 43.68 and a beta of 1.39. CBRE Group, Inc. has a 1 year low of $82.75 and a 1 year high of $142.00. The business has a 50 day simple moving average of $132.36 and a 200-day simple moving average of $114.71. 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 posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. Equities analysts forecast that CBRE Group, Inc. will post 4.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CBRE. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $163.00 in a research report on Monday. Citigroup upped their price target on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods upped their price target 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. The Goldman Sachs Group initiated coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 target price for the company. Finally, Evercore ISI increased their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.33.

CBRE Group Company 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.