Verdence Capital Advisors LLC Sells 2,373 Shares of CBRE Group, Inc. (NYSE:CBRE)

Verdence Capital Advisors LLC decreased its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 22.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,031 shares of the financial services provider’s stock after selling 2,373 shares during the period. Verdence Capital Advisors LLC’s holdings in CBRE Group were worth $1,054,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Meridian Wealth Management LLC boosted its holdings in shares of CBRE Group by 1.4% during the 4th quarter. Meridian Wealth Management LLC now owns 5,192 shares of the financial services provider’s stock worth $682,000 after buying an additional 71 shares during the period. Gilbert & Cook Inc. boosted its holdings in CBRE Group by 1.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,448 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 75 shares during the period. Lindbrook Capital LLC boosted its holdings 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 valued at $218,000 after purchasing an additional 79 shares during the period. Stephens Inc. AR boosted its holdings in CBRE Group by 3.1% in the 3rd quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 80 shares during the period. Finally, Community Bank & Trust Waco Texas boosted its holdings in CBRE Group by 0.6% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 15,280 shares of the financial services provider’s stock valued at $1,902,000 after purchasing an additional 93 shares during the period. Institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $163.00 in a report on Monday, December 16th. Raymond James downgraded shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $155.00 to $152.00 in a report on Friday, January 24th. Citigroup upped their price target on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.89.

CBRE Group Price Performance

CBRE stock opened at $142.36 on Thursday. The company has a 50 day simple moving average of $137.89 and a 200 day simple moving average of $130.53. The stock has a market cap of $42.71 billion, a price-to-earnings ratio of 45.34 and a beta of 1.39. CBRE Group, Inc. has a 1 year low of $84.24 and a 1 year high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS 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.