New York State Teachers Retirement System Has $42.41 Million Stake in CBRE Group, Inc. (NYSE:CBRE)

New York State Teachers Retirement System trimmed its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 322,991 shares of the financial services provider’s stock after selling 8,668 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of CBRE Group worth $42,405,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after buying an additional 692,697 shares during the period. Geode Capital Management LLC lifted its holdings in CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock valued at $950,270,000 after buying an additional 56,888 shares during the period. FMR LLC raised its holdings in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after purchasing an additional 3,498,244 shares during the period. Principal Financial Group Inc. raised its holdings in CBRE Group by 3.9% in the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after purchasing an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in CBRE Group by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after purchasing an additional 49,732 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CBRE shares. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $155.00 to $152.00 in a report on Friday, January 24th. Evercore ISI lowered their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective for the company. Finally, JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.33.

CBRE Group Stock Performance

Shares of CBRE stock opened at $143.89 on Friday. The stock has a market cap of $44.03 billion, a P/E ratio of 46.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The company has a fifty day moving average price of $135.96 and a two-hundred day moving average price of $127.36. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. As a group, equities analysts predict that CBRE Group, Inc. will post 4.99 EPS for the current year.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis 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.