Hartford Investment Management Co. Sells 263 Shares of CBRE Group, Inc. $CBRE

Hartford Investment Management Co. trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,777 shares of the financial services provider’s stock after selling 263 shares during the quarter. Hartford Investment Management Co.’s holdings in CBRE Group were worth $2,491,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new stake in CBRE Group during the 1st quarter worth approximately $256,000. Cambridge Investment Research Advisors Inc. grew its holdings in CBRE Group by 21.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider’s stock worth $968,000 after acquiring an additional 1,310 shares during the last quarter. USA Financial Formulas acquired a new position in shares of CBRE Group in the 1st quarter worth approximately $1,101,000. Golden State Wealth Management LLC lifted its position in shares of CBRE Group by 687.1% in the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 213 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of CBRE Group by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider’s stock worth $1,042,317,000 after purchasing an additional 368,214 shares during the period. 98.41% of the stock is owned by institutional investors.

CBRE Group Stock Up 1.1%

CBRE Group stock opened at $157.99 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. CBRE Group, Inc. has a 12-month low of $108.45 and a 12-month high of $167.56. The firm’s fifty day moving average is $158.40 and its 200 day moving average is $139.00. The company has a market capitalization of $47.01 billion, a PE ratio of 44.25 and a beta of 1.36.

CBRE Group (NYSE:CBRE) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, sell-side analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CEO Vikramaditya Kohli sold 1,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $154.90, for a total transaction of $154,900.00. Following the transaction, the chief executive officer owned 111,473 shares in the company, valued at approximately $17,267,167.70. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Lindsey S. Caplan sold 1,494 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total transaction of $232,122.78. Following the transaction, the chief accounting officer owned 26,717 shares in the company, valued at approximately $4,151,020.29. The trade was a 5.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,494 shares of company stock worth $857,593. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Wall Street Zen upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $131.00 to $147.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of CBRE Group from $143.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Finally, Raymond James Financial boosted their price target on shares of CBRE Group from $163.00 to $166.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.22.

About CBRE Group

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.