National Pension Service Sells 8,585 Shares of CBRE Group, Inc. (NYSE:CBRE)

National Pension Service reduced its holdings in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 501,898 shares of the financial services provider’s stock after selling 8,585 shares during the period. National Pension Service’s holdings in CBRE Group were worth $34,024,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CBRE. Franklin Resources Inc. lifted its position in shares of CBRE Group by 692.8% during the 2nd quarter. Franklin Resources Inc. now owns 3,544,103 shares of the financial services provider’s stock worth $260,880,000 after buying an additional 3,097,072 shares during the last quarter. Cooke & Bieler LP bought a new position in CBRE Group in the third quarter valued at about $90,882,000. Renaissance Technologies LLC raised its position in CBRE Group by 150.3% in the first quarter. Renaissance Technologies LLC now owns 1,320,100 shares of the financial services provider’s stock valued at $120,816,000 after purchasing an additional 792,717 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in CBRE Group in the third quarter valued at about $38,522,000. Finally, FMR LLC raised its position in CBRE Group by 5.2% in the second quarter. FMR LLC now owns 10,999,939 shares of the financial services provider’s stock valued at $809,706,000 after purchasing an additional 540,866 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

CBRE Group Trading Up 2.2 %

Shares of CBRE stock opened at $75.56 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. CBRE Group, Inc. has a 1-year low of $66.31 and a 1-year high of $94.21. The stock has a 50-day moving average of $84.40 and a 200-day moving average of $77.98. The stock has a market cap of $23.42 billion, a price-to-earnings ratio of 17.70 and a beta of 1.38.

CBRE Group (NYSE:CBRE – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. CBRE Group had a return on equity of 21.07% and a net margin of 4.57%. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $7.97 billion. During the same quarter last year, the firm posted $2.19 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that CBRE Group, Inc. will post 5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CBRE. StockNews.com began coverage on CBRE Group in a research report on Thursday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods downgraded CBRE Group from an “outperform” rating to a “market perform” rating and set a $88.00 target price for the company. in a research report on Thursday, January 26th. Raymond James dropped 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. increased their target price on CBRE Group from $80.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, March 3rd. Finally, Citigroup started coverage on CBRE Group in a research note on Friday, January 27th. They issued a “buy” rating and a $100.00 price target for the company. 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 data from MarketBeat, CBRE Group has an average rating of “Moderate Buy” and an average target price of $92.43.

About CBRE Group

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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.