Quadrature Capital Ltd bought a new stake in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) in the 3rd quarter, HoldingsChannel reports. The fund bought 4,719 shares of the financial services provider’s stock, valued at approximately $319,000.
Several other large investors have also recently made changes to their positions in CBRE. Franklin Resources Inc. grew its position in CBRE Group by 692.8% during the second quarter. Franklin Resources Inc. now owns 3,544,103 shares of the financial services provider’s stock valued at $260,880,000 after buying an additional 3,097,072 shares during the period. Renaissance Technologies LLC grew its position in shares of CBRE Group by 150.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,320,100 shares of the financial services provider’s stock valued at $120,816,000 after acquiring an additional 792,717 shares during the period. Great West Life Assurance Co. Can bought a new position in shares of CBRE Group during the 3rd quarter valued at approximately $38,522,000. FMR LLC raised its holdings in shares of CBRE Group by 5.2% in the 2nd quarter. FMR LLC now owns 10,999,939 shares of the financial services provider’s stock worth $809,706,000 after purchasing an additional 540,866 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in CBRE Group by 9.6% in the second quarter. JPMorgan Chase & Co. now owns 4,239,306 shares of the financial services provider’s stock valued at $312,057,000 after purchasing an additional 369,875 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on CBRE Group from $80.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, March 3rd. Citigroup assumed coverage on shares of CBRE Group in a report on Friday, January 27th. They set a “buy” rating and a $100.00 price objective on the stock. Keefe, Bruyette & Woods downgraded shares of CBRE Group from an “outperform” rating to a “market perform” rating and set a $88.00 target price for the company. in a research note on Thursday, January 26th. Finally, Raymond James dropped their price target on shares of CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 20th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and a consensus price target of $92.43.
CBRE Group Trading Down 3.8 %
CBRE Group (NYSE:CBRE – Get Rating) last posted its earnings results on Thursday, February 23rd. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. CBRE Group had a net margin of 4.57% and a return on equity of 21.07%. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $7.97 billion. During the same quarter in the prior year, the firm posted $2.19 EPS. CBRE Group’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts expect that CBRE Group, Inc. will post 5.14 earnings per share for the current fiscal year.
About CBRE Group
CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.
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