Penserra Capital Management LLC bought a new position in CBRE Group Inc (NYSE:CBRE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 41,166 shares of the financial services provider’s stock, valued at approximately $1,814,000.
Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN purchased a new stake in shares of CBRE Group in the 3rd quarter worth approximately $301,769,000. Sterling Capital Management LLC purchased a new stake in shares of CBRE Group in the 3rd quarter worth approximately $142,352,000. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of CBRE Group in the 3rd quarter worth approximately $133,879,000. Victory Capital Management Inc. purchased a new stake in shares of CBRE Group in the 3rd quarter worth approximately $48,127,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of CBRE Group in the 3rd quarter worth approximately $35,227,000. 94.53% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on CBRE shares. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Barclays upped their price target on CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 30th. ValuEngine downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Bank of America cut their target price on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. CBRE Group presently has a consensus rating of “Buy” and a consensus target price of $52.56.
Shares of CBRE opened at $42.99 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. CBRE Group Inc has a 12 month low of $38.05 and a 12 month high of $50.43. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.76.
CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, November 1st. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. The business had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.17 billion. CBRE Group’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that CBRE Group Inc will post 3.2 earnings per share for the current year.
In other CBRE Group news, CEO William F. Concannon sold 28,878 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $47.47, for a total transaction of $1,370,838.66. Following the sale, the chief executive officer now directly owns 204,631 shares in the company, valued at approximately $9,713,833.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.
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About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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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