Legacy Private Trust Co. cut its stake in shares of CBRE Group Inc (NYSE:CBRE) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,743 shares of the financial services provider’s stock after selling 4,936 shares during the quarter. Legacy Private Trust Co.’s holdings in CBRE Group were worth $3,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the business. Alpha Windward LLC raised its stake in shares of CBRE Group by 3.0% during the fourth quarter. Alpha Windward LLC now owns 8,876 shares of the financial services provider’s stock worth $544,000 after acquiring an additional 262 shares in the last quarter. DNB Asset Management AS increased its stake in shares of CBRE Group by 47.9% in the fourth quarter. DNB Asset Management AS now owns 52,158 shares of the financial services provider’s stock worth $3,197,000 after buying an additional 16,881 shares during the period. Allred Capital Management LLC purchased a new position in shares of CBRE Group in the fourth quarter worth $60,000. Tuttle Tactical Management purchased a new position in shares of CBRE Group in the fourth quarter worth $1,931,000. Finally, Hexavest Inc. increased its stake in shares of CBRE Group by 106,205.3% in the fourth quarter. Hexavest Inc. now owns 617,634 shares of the financial services provider’s stock worth $37,855,000 after buying an additional 617,053 shares during the period. 93.00% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on CBRE. Bank of America downgraded shares of CBRE Group from a “buy” rating to a “neutral” rating in a research note on Friday, January 3rd. ValuEngine downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. began coverage on shares of CBRE Group in a research note on Tuesday, October 29th. They issued an “overweight” rating on the stock. Finally, Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Thursday, November 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. CBRE Group presently has a consensus rating of “Hold” and an average price target of $60.20.
Shares of NYSE CBRE traded down $0.38 during mid-day trading on Tuesday, hitting $60.28. The stock had a trading volume of 942,705 shares, compared to its average volume of 1,109,078. The firm has a market cap of $20.27 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.33 and a beta of 1.69. The business has a 50 day moving average price of $59.38 and a two-hundred day moving average price of $54.43. CBRE Group Inc has a 1 year low of $41.93 and a 1 year high of $61.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.17.
CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. CBRE Group had a net margin of 4.50% and a return on equity of 23.24%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. Equities research analysts predict that CBRE Group Inc will post 3.74 EPS for the current fiscal year.
CBRE Group Profile
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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