CBRE Group, Inc. (NYSE:CBRE) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,004 shares of the financial services provider’s stock after purchasing an additional 1,099 shares during the quarter. Arizona State Retirement System’s holdings in CBRE Group were worth $11,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in shares of CBRE Group by 85.6% during the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after acquiring an additional 3,498,244 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in shares of CBRE Group during the fourth quarter worth about $190,695,000. Manning & Napier Advisors LLC purchased a new stake in shares of CBRE Group during the fourth quarter worth about $175,978,000. Los Angeles Capital Management LLC increased its position in shares of CBRE Group by 1,499.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock worth $139,162,000 after acquiring an additional 993,687 shares during the last quarter. Finally, State Street Corp increased its position in shares of CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after acquiring an additional 692,697 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Morgan Stanley boosted their price objective on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. The Goldman Sachs Group initiated coverage on CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Stock Down 6.2 %

NYSE:CBRE opened at $133.52 on Friday. The firm has a market capitalization of $40.06 billion, a PE ratio of 42.52 and a beta of 1.39. The stock has a 50 day moving average of $137.92 and a 200-day moving average of $130.55. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. Analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

About CBRE Group

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.