Ieq Capital LLC Boosts Stake in CBRE Group, Inc. (NYSE:CBRE)

by · The Cerbat Gem

Ieq Capital LLC lifted its stake in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,441 shares of the financial services provider’s stock after purchasing an additional 450 shares during the period. Ieq Capital LLC’s holdings in CBRE Group were worth $993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich increased its stake in CBRE Group by 98,156.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 220,922,882 shares of the financial services provider’s stock worth $17,830,686,000 after buying an additional 220,698,040 shares in the last quarter. Harris Associates L P increased its stake in CBRE Group by 9.6% in the 2nd quarter. Harris Associates L P now owns 14,735,255 shares of the financial services provider’s stock worth $1,189,282,000 after buying an additional 1,292,532 shares in the last quarter. Geode Capital Management LLC increased its stake in CBRE Group by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 7,189,800 shares of the financial services provider’s stock worth $522,405,000 after buying an additional 148,971 shares in the last quarter. Principal Financial Group Inc. increased its stake in CBRE Group by 15.1% in the 3rd quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock worth $503,786,000 after buying an additional 894,521 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in CBRE Group by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,824,186 shares of the financial services provider’s stock worth $430,175,000 after buying an additional 294,954 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Down 0.6 %

Shares of NYSE:CBRE opened at $86.27 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33. CBRE Group, Inc. has a 12 month low of $64.63 and a 12 month high of $94.27. The company has a 50-day moving average price of $85.82 and a 200 day moving average price of $81.29. The company has a market cap of $26.29 billion, a price-to-earnings ratio of 46.13 and a beta of 1.44.

CBRE Group (NYSE:CBRE – Get Free Report) last announced its quarterly earnings results on Friday, October 27th. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. CBRE Group had a net margin of 1.89% and a return on equity of 13.88%. The firm had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter last year, the firm earned $1.13 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that CBRE Group, Inc. will post 3.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of CBRE Group from $93.00 to $85.00 in a report on Tuesday, October 3rd. TheStreet raised shares of CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday. UBS Group dropped their price objective on shares of CBRE Group from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, November 22nd. Raymond James increased their price objective on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a report on Thursday. Finally, StockNews.com assumed coverage on shares of CBRE Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.29.

Get Our Latest Stock Report on CBRE

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,064 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $76.53, for a total value of $81,427.92. Following the completion of the sale, the chief financial officer now owns 53,685 shares of the company’s stock, valued at $4,108,513.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

CBRE Group Company Profile

(Free Report)

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, accounting, and financial services for owners of and investors in office, industrial, and retail properties; 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.

See Also

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