BlueCrest Capital Management Ltd acquired a new stake in shares of CBRE Group Inc (NYSE:CBG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 30,759 shares of the financial services provider’s stock, valued at approximately $1,332,000.
Other hedge funds have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of CBRE Group by 70.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock valued at $11,884,000 after acquiring an additional 130,144 shares during the period. BlackRock Inc. grew its position in shares of CBRE Group by 13.0% during the 4th quarter. BlackRock Inc. now owns 23,251,731 shares of the financial services provider’s stock valued at $1,007,033,000 after acquiring an additional 2,668,228 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of CBRE Group during the 3rd quarter valued at $748,000. Convergence Investment Partners LLC bought a new stake in shares of CBRE Group during the 4th quarter valued at $1,837,000. Finally, Legal & General Group Plc grew its position in shares of CBRE Group by 4.6% during the 3rd quarter. Legal & General Group Plc now owns 1,540,359 shares of the financial services provider’s stock valued at $58,349,000 after acquiring an additional 67,625 shares during the period. 94.31% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of CBRE Group from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, March 6th. Wedbush reissued an “outperform” rating and set a $46.50 price objective on shares of CBRE Group in a research report on Monday, February 12th. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Friday, February 9th. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Friday, February 9th. Finally, Raymond James Financial initiated coverage on shares of CBRE Group in a research report on Tuesday, February 6th. They set an “outperform” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. CBRE Group has a consensus rating of “Buy” and an average target price of $47.28.
CBRE Group Inc (NYSE CBG) opened at $47.67 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.18 and a current ratio of 1.18. CBRE Group Inc has a one year low of $32.30 and a one year high of $48.27. The firm has a market cap of $16,180.00, a price-to-earnings ratio of 19.46, a P/E/G ratio of 1.19 and a beta of 1.72.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned $0.93 EPS. CBRE Group’s revenue for the quarter was up 13.4% on a year-over-year basis. research analysts expect that CBRE Group Inc will post 3.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%.
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About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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