Financial Counselors Inc. acquired a new stake in shares of CBRE Group Inc (NYSE:CBRE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,596 shares of the financial services provider’s stock, valued at approximately $247,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in CBRE Group during the 3rd quarter worth approximately $103,000. Quadrant Capital Group LLC bought a new position in CBRE Group during the 3rd quarter worth approximately $128,000. Hanson & Doremus Investment Management bought a new position in CBRE Group during the 3rd quarter worth approximately $155,000. IFP Advisors Inc bought a new position in CBRE Group during the 3rd quarter worth approximately $176,000. Finally, Squar Milner Financial Services LLC bought a new position in CBRE Group during the 3rd quarter worth approximately $197,000. 94.47% of the stock is currently owned by institutional investors.
CBRE has been the topic of several recent research reports. Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Barclays raised their price target on CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. Bank of America reduced their price target on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday. Finally, ValuEngine lowered CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. CBRE Group presently has a consensus rating of “Buy” and a consensus price target of $52.56.
Shares of CBRE stock opened at $41.74 on Friday. The company has a market capitalization of $14.18 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.01 and a beta of 1.76. CBRE Group Inc has a fifty-two week low of $38.05 and a fifty-two week high of $50.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.06.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The firm had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.17 billion. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. CBRE Group’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts forecast that CBRE Group Inc will post 3.18 earnings per share for the current year.
About CBRE Group
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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