Meiji Yasuda Asset Management Co Ltd. Cuts Holdings in CBRE Group Inc (NYSE:CBRE)

Meiji Yasuda Asset Management Co Ltd. lowered its position in shares of CBRE Group Inc (NYSE:CBRE) by 23.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,212 shares of the financial services provider’s stock after selling 3,671 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in CBRE Group were worth $604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CBRE. Public Employees Retirement System of Ohio raised its position in shares of CBRE Group by 7.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 467,585 shares of the financial services provider’s stock worth $18,722,000 after purchasing an additional 32,532 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of CBRE Group by 1.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 54,083 shares of the financial services provider’s stock worth $2,165,000 after purchasing an additional 786 shares during the period. Legal & General Group Plc raised its position in shares of CBRE Group by 7.0% during the 4th quarter. Legal & General Group Plc now owns 1,765,484 shares of the financial services provider’s stock worth $70,684,000 after purchasing an additional 114,884 shares during the period. NumerixS Investment Technologies Inc raised its position in shares of CBRE Group by 332.9% during the 1st quarter. NumerixS Investment Technologies Inc now owns 23,350 shares of the financial services provider’s stock worth $1,142,000 after purchasing an additional 17,956 shares during the period. Finally, Greenleaf Trust acquired a new stake in shares of CBRE Group during the 1st quarter worth approximately $258,000. Hedge funds and other institutional investors own 93.08% of the company’s stock.

Shares of CBRE stock opened at $49.89 on Friday. CBRE Group Inc has a 12-month low of $37.45 and a 12-month high of $52.41. The company has a market capitalization of $16.50 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.16 and a quick ratio of 1.16.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.20. CBRE Group had a return on equity of 24.72% and a net margin of 4.94%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts forecast that CBRE Group Inc will post 3.61 EPS for the current fiscal year.

A number of brokerages have recently weighed in on CBRE. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, February 19th. JMP Securities reiterated a “hold” rating on shares of CBRE Group in a research report on Monday, March 11th. Finally, Bank of America set a $54.00 price target on CBRE Group and gave the stock a “hold” rating in a research report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $56.33.

In other CBRE Group news, Director Curtis F. Feeny sold 4,514 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $47.30, for a total transaction of $213,512.20. Following the completion of the transaction, the director now directly owns 4,228 shares of the company’s stock, valued at approximately $199,984.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert E. Sulentic sold 40,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.00, for a total value of $2,000,000.00. Following the transaction, the chief executive officer now directly owns 841,601 shares of the company’s stock, valued at $42,080,050. The disclosure for this sale can be found here. Insiders sold a total of 99,766 shares of company stock valued at $5,061,995 over the last three months. Corporate insiders own 0.74% of the company’s stock.

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CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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