Denali Advisors LLC lifted its position in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 31.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,800 shares of the financial services provider's stock after buying an additional 2,100 shares during the period. Denali Advisors LLC's holdings in CBRE Group were worth $648,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Tcwp LLC bought a new stake in CBRE Group during the first quarter worth about $25,000. Jones Financial Companies Lllp raised its holdings in CBRE Group by 65.4% during the first quarter. Jones Financial Companies Lllp now owns 316 shares of the financial services provider's stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in CBRE Group during the first quarter worth about $31,000. Atticus Wealth Management LLC bought a new stake in CBRE Group during the second quarter worth about $33,000. Finally, Allworth Financial LP raised its holdings in CBRE Group by 566.7% during the second quarter. Allworth Financial LP now owns 480 shares of the financial services provider's stock worth $35,000 after acquiring an additional 408 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
Several analysts have issued reports on CBRE shares. StockNews.com lowered CBRE Group from a "buy" rating to a "hold" rating in a research note on Thursday, August 25th. Evercore ISI increased their target price on CBRE Group to $96.00 in a research note on Monday, August 15th. UBS Group lowered their target price on CBRE Group from $95.00 to $86.00 in a research note on Wednesday, September 21st. Finally, Raymond James increased their target price on CBRE Group from $110.00 to $113.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CBRE Group currently has an average rating of "Buy" and a consensus price target of $106.17.
CBRE Group Trading Up 2.4 %
Shares of NYSE:CBRE opened at $70.18 on Thursday. The company has a market capitalization of $22.54 billion, a P/E ratio of 11.78 and a beta of 1.38. CBRE Group, Inc. has a 1 year low of $67.68 and a 1 year high of $111.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.16 and a quick ratio of 1.16. The business's 50 day simple moving average is $80.36 and its 200 day simple moving average is $81.11.
CBRE Group (NYSE:CBRE – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.45. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.72 billion. CBRE Group had a return on equity of 25.77% and a net margin of 6.59%. The firm's quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, research analysts anticipate that CBRE Group, Inc. will post 6.25 EPS for the current fiscal year.
About CBRE Group
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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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