B. Riley Wealth Advisors Inc. Reduces Holdings in CBRE Group, Inc. (NYSE:CBRE)

B. Riley Wealth Advisors Inc. reduced its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,196 shares of the financial services provider’s stock after selling 230 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in CBRE Group were worth $396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after buying an additional 3,498,244 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of CBRE Group by 60.2% in the third 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 acquiring an additional 993,963 shares in the last quarter. State Street Corp grew its stake in CBRE Group by 5.4% during the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after purchasing an additional 692,697 shares in the last quarter. Eminence Capital LP grew its stake in CBRE Group by 42.6% during the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after purchasing an additional 453,406 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in CBRE Group during the 2nd quarter worth approximately $36,820,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

CBRE Group Stock Performance

Shares of NYSE CBRE opened at $125.65 on Friday. 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 firm’s 50-day moving average price is $132.64 and its two-hundred day moving average price is $114.89. CBRE Group, Inc. has a 52-week low of $82.75 and a 52-week high of $142.00. The stock has a market capitalization of $38.45 billion, a P/E ratio of 40.40 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. As a group, sell-side analysts forecast that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on CBRE shares. Citigroup increased their target price on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $163.00 in a research note on Monday. The Goldman Sachs Group began coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective for the company. Evercore ISI upped 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. Finally, Keefe, Bruyette & Woods lifted their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and an average target price of $133.33.

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.