Principal Financial Group Inc. Has $1.49 Billion Position in CBRE Group, Inc. $CBRE

Principal Financial Group Inc. lifted its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 9.4% in the third quarter, HoldingsChannel.com reports. The fund owned 9,468,455 shares of the financial services provider’s stock after buying an additional 809,796 shares during the period. CBRE Group comprises approximately 0.8% of Principal Financial Group Inc.’s portfolio, making the stock its 25th biggest holding. Principal Financial Group Inc.’s holdings in CBRE Group were worth $1,491,855,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC lifted its stake in CBRE Group by 264.4% during the third quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 119 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of CBRE Group in the 2nd quarter valued at $30,000. Evelyn Partners Asset Management Ltd acquired a new position in shares of CBRE Group during the 2nd quarter worth $32,000. NewSquare Capital LLC lifted its position in shares of CBRE Group by 40.7% during the 2nd quarter. NewSquare Capital LLC now owns 235 shares of the financial services provider’s stock worth $33,000 after buying an additional 68 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in CBRE Group in the third quarter valued at about $38,000. 98.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CBRE. UBS Group boosted their target price on CBRE Group from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $185.00 to $192.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Barclays upped their price objective on shares of CBRE Group from $190.00 to $192.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Weiss Ratings restated a “buy (b-)” rating on shares of CBRE Group in a research report on Wednesday, January 21st. Finally, Morgan Stanley upped their price target on shares of CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and a consensus target price of $182.14.

CBRE Group Trading Down 0.8%

CBRE opened at $170.24 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.13 and a quick ratio of 1.13. CBRE Group, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $173.05. The company’s 50 day moving average price is $163.92 and its two-hundred day moving average price is $158.95. The firm has a market capitalization of $50.66 billion, a price-to-earnings ratio of 42.03 and a beta of 1.34.

CBRE Group Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.