Veriti Management LLC lessened its holdings in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 18.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,080 shares of the financial services provider's stock after selling 905 shares during the quarter. Veriti Management LLC's holdings in CBRE Group were worth $300,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tcwp LLC bought a new position in shares of CBRE Group in the first quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its position in shares of CBRE Group by 65.4% in the first quarter. Jones Financial Companies Lllp now owns 316 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 125 shares during the period. Lloyd Advisory Services LLC. bought a new position in shares of CBRE Group in the first quarter valued at approximately $31,000. Atticus Wealth Management LLC bought a new position in shares of CBRE Group in the second quarter valued at approximately $33,000. Finally, Allworth Financial LP grew its stake in shares of CBRE Group by 566.7% in 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 during the last quarter. Institutional investors own 96.74% of the company's stock.
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Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their price objective on shares of CBRE Group to $96.00 in a research note on Monday, August 15th. StockNews.com downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Thursday, August 25th. UBS Group lowered their price objective on shares of CBRE Group from $95.00 to $86.00 in a research note on Wednesday, September 21st. Finally, Raymond James raised their price objective on shares of 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 analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $106.17.
CBRE Group Stock Down 3.4 %
CBRE opened at $67.79 on Friday. CBRE Group, Inc. has a fifty-two week low of $66.74 and a fifty-two week 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 firm's fifty day moving average price is $80.09 and its two-hundred day moving average price is $80.97. The company has a market capitalization of $21.77 billion, a P/E ratio of 11.37 and a beta of 1.38.
CBRE Group (NYSE:CBRE – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.45. The company had revenue of $7.77 billion during the quarter, compared to analysts' expectations of $7.72 billion. CBRE Group had a return on equity of 25.77% and a net margin of 6.59%. The business's revenue was up 20.3% on a year-over-year basis. During the same period last year, the business 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 Company 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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