BNP Paribas Arbitrage SNC grew its position in CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 0.8% in the third quarter, Holdings Channel.com reports. The fund owned 285,384 shares of the financial services provider’s stock after buying an additional 2,125 shares during the period. BNP Paribas Arbitrage SNC’s holdings in CBRE Group were worth $19,266,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its position in shares of CBRE Group by 5.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,626 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 141 shares during the period. Marks Group Wealth Management Inc lifted its position in shares of CBRE Group by 3.1% during the 2nd quarter. Marks Group Wealth Management Inc now owns 5,309 shares of the financial services provider’s stock worth $391,000 after buying an additional 158 shares during the period. DAVENPORT & Co LLC lifted its position in shares of CBRE Group by 0.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 43,201 shares of the financial services provider’s stock worth $2,916,000 after buying an additional 160 shares during the period. Edmond DE Rothschild Holding S.A. lifted its position in shares of CBRE Group by 0.6% during the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 29,606 shares of the financial services provider’s stock worth $1,999,000 after buying an additional 162 shares during the period. Finally, Vestmark Advisory Solutions Inc. lifted its position in shares of CBRE Group by 0.6% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 27,121 shares of the financial services provider’s stock worth $1,831,000 after buying an additional 163 shares during the period. Institutional investors own 96.07% of the company’s stock.
Wall Street Analysts Forecast Growth
CBRE has been the subject of several analyst reports. Raymond James cut their target price on CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating for the company in a research report on Friday, January 20th. JPMorgan Chase & Co. raised their target price on CBRE Group from $80.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, March 3rd. Citigroup began coverage on CBRE Group in a research report on Friday, January 27th. They set a “buy” rating and a $100.00 target price for the company. Finally, Keefe, Bruyette & Woods cut CBRE Group from an “outperform” rating to a “market perform” rating and set a $88.00 price target for the company. in a report on Thursday, January 26th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CBRE Group has an average rating of “Moderate Buy” and an average price target of $92.43.
CBRE Group Trading Up 0.5 %
CBRE Group (NYSE:CBRE – Get Rating) last released its earnings results on Thursday, February 23rd. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.19 by $0.14. The company had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $7.97 billion. CBRE Group had a return on equity of 21.07% and a net margin of 4.57%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $2.19 EPS. Analysts expect that CBRE Group, Inc. will post 5.14 EPS 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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