JLB & Associates Inc. increased its stake in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,951 shares of the financial services provider's stock after purchasing an additional 1,235 shares during the period. JLB & Associates Inc.'s holdings in CBRE Group were worth $2,867,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of CBRE Group during the fourth quarter worth $347,784,000. State Street Corp increased its stake in CBRE Group by 6.0% in the 4th quarter. State Street Corp now owns 14,871,950 shares of the financial services provider's stock worth $1,613,755,000 after buying an additional 846,053 shares during the period. Vanguard Group Inc. increased its position in CBRE Group by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 53,153,811 shares of the financial services provider's stock valued at $4,864,637,000 after purchasing an additional 831,038 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of CBRE Group by 150.3% in 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 buying an additional 792,717 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in CBRE Group by 345.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 941,612 shares of the financial services provider's stock worth $86,176,000 after purchasing an additional 730,172 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
Several analysts have commented on CBRE shares. StockNews.com cut shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Thursday, August 25th. Evercore ISI upped their target price on shares of CBRE Group to $96.00 in a report on Monday, August 15th. Raymond James boosted their price target on shares of CBRE Group from $110.00 to $113.00 and gave the company a "strong-buy" rating in a research report on Friday, August 5th. Finally, UBS Group lowered their price target on shares of CBRE Group from $95.00 to $86.00 in a research report on Wednesday, September 21st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $106.17.
CBRE Group Price Performance
CBRE Group stock traded down $0.32 during midday trading on Tuesday, reaching $68.71. 41,073 shares of the company were exchanged, compared to its average volume of 1,589,379. The firm's 50-day simple moving average is $80.78 and its 200-day simple moving average is $81.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.16. CBRE Group, Inc. has a 1 year low of $67.68 and a 1 year high of $111.00. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 11.58 and a beta of 1.38.
CBRE Group (NYSE:CBRE – Get Rating) last posted its earnings results on Thursday, August 4th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.44. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.72 billion. CBRE Group had a return on equity of 25.77% and a net margin of 6.59%. The company's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. On average, analysts anticipate that CBRE Group, Inc. will post 6.25 EPS for the current year.
CBRE Group Profile
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CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services for owners of and investors in office, industrial, and retail properties; 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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