Quantbot Technologies LP purchased a new stake in shares of CBRE Group Inc (NYSE:CBRE) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 135,621 shares of the financial services provider’s stock, valued at approximately $5,980,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBRE. Optimum Investment Advisors boosted its position in shares of CBRE Group by 6.8% during the third quarter. Optimum Investment Advisors now owns 21,263 shares of the financial services provider’s stock worth $938,000 after buying an additional 1,350 shares during the period. Fox Run Management L.L.C. purchased a new position in CBRE Group in the third quarter valued at $420,000. Jaffetilchin Investment Partners LLC purchased a new position in CBRE Group in the third quarter valued at $493,000. Atria Investments LLC boosted its holdings in CBRE Group by 27.3% in the third quarter. Atria Investments LLC now owns 10,373 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 2,222 shares during the period. Finally, Aurora Investment Counsel purchased a new position in CBRE Group in the third quarter valued at $1,716,000. Institutional investors and hedge funds own 94.02% of the company’s stock.
CBRE has been the topic of a number of analyst reports. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Monday, August 6th. Barclays raised their price target on CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 30th. ValuEngine cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Bank of America cut their price target 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. CBRE Group currently has a consensus rating of “Buy” and a consensus price target of $52.56.
CBRE opened at $43.36 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 1.16. CBRE Group Inc has a one year low of $38.05 and a one year high of $50.43. The stock has a market cap of $14.57 billion, a PE ratio of 16.09, a PEG ratio of 1.03 and a beta of 1.76.
CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, November 1st. The financial services provider reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The business had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.17 billion. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that CBRE Group Inc will post 3.2 EPS for the current 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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