Bridges Investment Management Inc. decreased its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 36.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,923 shares of the financial services provider's stock after selling 3,422 shares during the quarter. Bridges Investment Management Inc.'s holdings in CBRE Group were worth $778,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider's stock valued at $944,435,000 after purchasing an additional 3,498,244 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of CBRE Group in the 4th quarter worth $190,695,000. Manning & Napier Advisors LLC acquired a new stake in shares of CBRE Group in the 4th quarter worth $175,978,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of CBRE Group by 60.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider's stock worth $329,320,000 after acquiring an additional 993,963 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in shares of CBRE Group by 1,499.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider's stock valued at $139,162,000 after purchasing an additional 993,687 shares during the period. Hedge funds and other institutional investors own 98.41% of the company's stock.
CBRE Group Trading Down 4.6 %
Shares of NYSE CBRE traded down $6.56 during midday trading on Thursday, reaching $135.74. 744,383 shares of the stock were exchanged, compared to its average volume of 1,836,411. The company has a market capitalization of $40.73 billion, a P/E ratio of 43.14 and a beta of 1.39. CBRE Group, Inc. has a 52-week low of $84.24 and a 52-week high of $147.75. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $137.89 and a 200-day moving average price of $130.53.
CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Equities research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently commented on CBRE. Jefferies Financial Group upgraded shares of CBRE Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Citigroup raised their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Raymond James cut shares of CBRE Group from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $155.00 to $152.00 in a research note on Friday, January 24th. The Goldman Sachs Group began coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a "buy" rating and a $176.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded shares of CBRE Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.89.
View Our Latest Research Report on CBRE
CBRE Group Profile
(
Free Report)
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.
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