Evercore Wealth Management LLC Reduces Stock Position in CBRE Group, Inc. $CBRE

Evercore Wealth Management LLC cut its holdings in CBRE Group, Inc. (NYSE:CBRE) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 987,081 shares of the financial services provider’s stock after selling 9,919 shares during the quarter. CBRE Group makes up approximately 2.1% of Evercore Wealth Management LLC’s holdings, making the stock its 16th largest holding. Evercore Wealth Management LLC’s holdings in CBRE Group were worth $133,710,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CBRE. Swiss RE Ltd. purchased a new position in shares of CBRE Group during the fourth quarter valued at about $25,000. Navalign LLC purchased a new position in CBRE Group during the fourth quarter valued at $29,000. Ascentis Independent Advisors purchased a new position in CBRE Group during the first quarter valued at $30,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of CBRE Group during the 1st quarter valued at $33,000. Finally, Sound Income Strategies LLC grew its position in shares of CBRE Group by 5,180.0% in the 1st quarter. Sound Income Strategies LLC now owns 264 shares of the financial services provider’s stock worth $36,000 after buying an additional 259 shares during the period. Institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CBRE. Jefferies Financial Group reissued a “buy” rating on shares of CBRE Group in a research report on Friday, May 15th. Evercore set a $169.00 price objective on shares of CBRE Group in a report on Tuesday, June 30th. Barclays raised their target price on shares of CBRE Group from $175.00 to $178.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Wall Street Zen raised CBRE Group from a “hold” rating to a “buy” rating in a research report on Saturday. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $178.86.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,250 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $130.74, for a total transaction of $294,165.00. Following the sale, the chief financial officer owned 110,729 shares in the company, valued at $14,476,709.46. This represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.46% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $144.06 on Tuesday. CBRE Group, Inc. has a 1 year low of $121.69 and a 1 year high of $174.27. The firm’s 50-day moving average is $134.63 and its 200 day moving average is $143.69. The stock has a market cap of $42.18 billion, a price-to-earnings ratio of 32.82 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08.

CBRE Group Company Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.