Illinois Municipal Retirement Fund Sells 41,916 Shares of CBRE Group, Inc. (NYSE:CBRE)

Illinois Municipal Retirement Fund trimmed its position in CBRE Group, Inc. (NYSE:CBRE) by 65.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 22,405 shares of the financial services provider’s stock after selling 41,916 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CBRE Group were worth $2,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CBRE Group during the 4th quarter valued at $45,000. Cary Street Partners Investment Advisory LLC increased its position in CBRE Group by 190.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 497 shares of the financial services provider’s stock valued at $37,000 after buying an additional 326 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in CBRE Group in the fourth quarter valued at about $48,000. Planned Solutions Inc. purchased a new stake in shares of CBRE Group during the fourth quarter worth about $52,000. Finally, Headinvest LLC purchased a new position in shares of CBRE Group in the 3rd quarter valued at approximately $44,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

NYSE:CBRE opened at $87.01 on Friday. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $98.65. The company has a market cap of $26.71 billion, a P/E ratio of 27.45 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $92.25 and its 200-day moving average price is $85.20.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The firm had revenue of $8.95 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the company earned $1.33 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts forecast that CBRE Group, Inc. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CBRE has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Raymond James raised their price target on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group started coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price objective on the stock. StockNews.com raised shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Evercore ISI lifted their price objective on CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CBRE Group presently has an average rating of “Moderate Buy” and a consensus price target of $99.50.

Insider Buying and Selling at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Chandra Dhandapani sold 11,925 shares of CBRE Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $94.03, for a total value of $1,121,307.75. Following the completion of the sale, the chief executive officer now owns 127,064 shares in the company, valued at $11,947,827.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Emma E. Giamartino sold 2,667 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the transaction, the chief financial officer now owns 72,350 shares in the company, valued at $6,766,895.50. The disclosure for this sale can be found here. Insiders sold 39,592 shares of company stock valued at $3,675,752 over the last 90 days. 0.54% of the stock is owned by corporate insiders.

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.