California State Teachers Retirement System Trims Holdings in CBRE Group, Inc. (NYSE:CBRE)

California State Teachers Retirement System cut its position in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 3.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 542,350 shares of the financial services provider’s stock after selling 18,165 shares during the quarter. California State Teachers Retirement System’s holdings in CBRE Group were worth $36,614,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CBRE. Guardian Wealth Advisors LLC purchased a new stake in CBRE Group in the 3rd quarter worth approximately $27,000. CI Investments Inc. increased its stake in CBRE Group by 976.9% in the third quarter. CI Investments Inc. now owns 420 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 381 shares during the last quarter. Private Trust Co. NA purchased a new position in CBRE Group during the second quarter worth about $31,000. SeaCrest Wealth Management LLC acquired a new stake in CBRE Group in the 2nd quarter worth about $32,000. Finally, Edge Capital Group LLC purchased a new stake in CBRE Group in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CBRE. Raymond James cut their price objective on shares of CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating on the stock in a report on Friday, January 20th. Keefe, Bruyette & Woods cut shares of CBRE Group from an “outperform” rating to a “market perform” rating and set a $88.00 price objective for the company. in a research note on Thursday, January 26th. Citigroup started coverage on CBRE Group in a research report on Friday, January 27th. They issued a “buy” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. boosted their price target 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, StockNews.com assumed coverage on CBRE Group in a report on Thursday. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.43.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $73.87 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.03. CBRE Group, Inc. has a 1-year low of $66.31 and a 1-year high of $94.21. The company has a market capitalization of $22.89 billion, a price-to-earnings ratio of 17.30 and a beta of 1.38. The business has a 50-day moving average of $84.26 and a 200-day moving average of $77.95.

CBRE Group (NYSE:CBRE – Get Rating) last released its quarterly 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. The firm 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%. CBRE Group’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.19 EPS. On average, equities analysts anticipate that CBRE Group, Inc. will post 5 EPS for the current fiscal year.

CBRE Group Company Profile

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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.