Thrivent Financial for Lutherans Buys 70,670 Shares of CBRE Group, Inc. $CBRE

Thrivent Financial for Lutherans grew its stake in CBRE Group, Inc. (NYSE:CBRE) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 631,985 shares of the financial services provider’s stock after acquiring an additional 70,670 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CBRE Group were worth $99,575,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CBRE. State Street Corp boosted its position in shares of CBRE Group by 1.8% during the second quarter. State Street Corp now owns 13,734,182 shares of the financial services provider’s stock worth $1,924,434,000 after purchasing an additional 236,323 shares in the last quarter. Geode Capital Management LLC raised its stake in CBRE Group by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 8,249,441 shares of the financial services provider’s stock worth $1,158,068,000 after buying an additional 134,160 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in CBRE Group by 13.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,472,013 shares of the financial services provider’s stock worth $704,610,000 after acquiring an additional 532,151 shares in the last quarter. Norges Bank acquired a new position in CBRE Group in the second quarter valued at about $544,554,000. Finally, Allspring Global Investments Holdings LLC grew its stake in CBRE Group by 9.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,628,945 shares of the financial services provider’s stock valued at $513,931,000 after acquiring an additional 319,115 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CBRE Group Stock Down 0.8%

Shares of CBRE stock opened at $170.24 on Friday. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $173.05. The stock has a market cap of $50.66 billion, a price-to-earnings ratio of 42.03 and a beta of 1.34. The firm’s 50-day moving average is $163.92 and its 200-day moving average is $158.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 1.13.

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.