AE Wealth Management LLC Trims CBRE Group Inc. Position in Recent Filing
Date: September 22, 2023
AE Wealth Management LLC, a financial services provider, has substantially reduced its position in CBRE Group Inc. (NYSE:CBRE), according to their recent filing with the Securities and Exchange Commission. During the second quarter, the firm sold 217,759 shares of CBRE Group stock, resulting in an 83.2% decrease in their holdings. At the end of this reporting period, AE Wealth Management LLC retained ownership of 43,966 shares worth $3,549,000.
CBRE Group Inc., a leading commercial real estate services company listed on the New York Stock Exchange under the ticker symbol “CBRE,” opened at $75.15 on Friday. The company maintains a debt-to-equity ratio of 0.23 and exhibits a current ratio of 1.16 along with a quick ratio of 1.16.
With regards to its stock performance over the past year, CBRE Group reached a low of $66.31 and a high of $89.58. Presently, it boasts a market capitalization valued at approximately $23.28 billion and holds a price-to-earnings (P/E) ratio of 28.47 with a beta factor of 1.36.
Moreover, investors may find it useful to note that CBRE Group’s fifty-day moving average price stands at $84.19 while its two-hundred-day moving average price is recorded at $78.56.
It is important to emphasize that these figures are accurate as per the referenced date; thus they should be considered as historical data subject to change depending on future market conditions and developments in the commercial real estate industry.
In conclusion, AE Wealth Management LLC has significantly reduced its holdings in CBRE Group Inc., selling off the majority of their shares during the second quarter of this fiscal year. As a result, the financial services provider now owns 43,966 shares valued at $3,549,000. The current market conditions and CBRE Group’s stock performance indicate potential areas of interest to investors in the commercial real estate sector going forward.
[bs_slider_forecast ticker=”CBRE”]
CBRE Group Attracts Prominent Investors and Reports Strong Financial Performance
CBRE Group (NYSE: CBRE), a prominent financial services provider, has been attracting attention from multiple hedge funds and institutional investors recently. Norges Bank, one of the largest sovereign wealth funds in the world, purchased a substantial position in CBRE Group during the fourth quarter of 2022. The value of this purchase amounted to approximately $255,749,000, indicating strong investor interest in the company.
London Co. of Virginia also entered into a new position in CBRE Group during the first quarter of this year, with an estimated value of $126,917,000. These strategic investments reflect the confidence that some key players in the industry have placed in CBRE Group’s performance and potential for growth.
Furthermore, Harris Associates L P increased its stake in CBRE Group by 11.2% during the fourth quarter of 2022. This move resulted in Harris Associates becoming one of the major shareholders of CBRE Group, with ownership of 13,661,270 shares worth $1,051,371,000. Similarly, Wellington Management Group LLP raised its holdings in CBRE Group by 97.7% during the first quarter of this year. With an additional purchase totaling 1,087,893 shares worth $160,
293,
000,
Wellington
has
solidified
its
position
as
a significant
investor.
Maverick Capital Ltd., another notable hedge fund firm concluded a fresh stake acquisition amounting to about $65,
416,
000
in
the fourth quarter last year.
This surge in investments from institutional investors and hedge funds demonstrates their confidence in CBRE Group’s ability to deliver returns and generate value for its shareholders.
In another development within CBRE Group’s internal affairs: CAO Lindsey S. Caplan recently sold 1,
305 shares of company stock on August 2nd at an average price per share of $83.
08,
resulting in a total value of $108,419.40. Following this sale, Caplan now possesses 17,215 shares of CBRE Group’s stock.
Additionally, Director Brandon B. Boze sold a staggering 3,
400,
000 shares on August 1st at an average price of $80.80 per share. This large-scale sale amounted to a total transaction value of $274,
720,000.
After the completion of this transaction, Boze now owns 5,
837,
748 shares representing significant ownership worth approximately $471,
690,038.40.
These major insider transactions within CBRE Group have been officially reported in compliance with regulatory filings to the Securities & Exchange Commission (SEC). In accordance with these filings, comprehensive details can be found in their official disclosure documents accessible via specific hyperlinks.
During the last quarter analyzed, insiders sold an astonishing 4,607,856 company shares totaling an estimated value of $376,671,359. These insider sales represent approximately 0.53% of the company’s overall outstanding stock ownership that insiders possess.
CBRE Group recently reported its quarterly earnings on July 27th. The financial services provider outperformed market expectations by reporting a quarterly earnings per share (EPS) of $0.82$0.05 higher than analysts’ consensus estimates of $0.77 EPS for the same period.
Furthermore, CBRE Group generated revenue amounting to $7.72 billion during the quarteran impressive figure that surpassed analysts’ projections of $7.30 billion in revenue for the comparable period last year.
CBRE Group showcased a return on equity (ROE) ratio of 15.
42%
alongside a net margin percentage standing at 2.
74%.
While its revenue decreased slightly by 0.
7%
in comparison to the same quarter last year, it nonetheless manages to demonstrate robust financial performance and resilience in an ever-evolving market.
In light of these sound financial results, sell-side analysts predict that CBRE Group, Inc. will achieve a solid earnings per share of 4.
39
for the current fiscal year.
CBRE Group has also garnered attention from several brokerage firms. Citigroup reiterated its “buy” rating and established a price objective of $98.
00
per share for CBRE Group’s stock. Raymond James, on the other hand, lowered their price target from $102.
00
to $100.
00,
endorsing a “strong-buy” rating. Evercore ISI adjusted their target price downwards from $94.
00
to $91, maintaining an “outperform” rating for the company. In addition to these ratings, StockNews.com initiated coverage on CBRE Group stock and assigned a “hold” rating.
Based on data from Bloomberg, there seems to be a consensus among analysts that CBRE Group warrants a moderate buy recommendation. The average target price placed on the stock is estimated at $92.
67,
reflecting optimism about its future prospects.
As CBRE Group continues to attract investments from both institutional shareholders and hedge funds alike while delivering positive financial results consistently, it remains well-positioned to navigate challenges and capitalize on opportunities within the
