Alphinity Investment Management Pty Ltd Acquires Shares of 1,452,473 CBRE Group, Inc. (NYSE:CBRE)

Alphinity Investment Management Pty Ltd acquired a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,452,473 shares of the financial services provider’s stock, valued at approximately $190,695,000. CBRE Group accounts for 1.0% of Alphinity Investment Management Pty Ltd’s holdings, making the stock its 26th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Algert Global LLC purchased a new stake in shares of CBRE Group in the 3rd quarter worth about $1,829,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of CBRE Group in the 4th quarter worth about $1,518,000. Merit Financial Group LLC purchased a new stake in shares of CBRE Group in the 4th quarter worth about $256,000. Fulton Bank N.A. grew its position in shares of CBRE Group by 342.0% in the 4th quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after buying an additional 19,227 shares during the period. Finally, Prestige Wealth Management Group LLC grew its position in shares of CBRE Group by 17,304.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after buying an additional 3,807 shares during the period. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Trading Up 1.4 %

Shares of CBRE Group stock opened at $140.63 on Thursday. The company has a market capitalization of $42.19 billion, a P/E ratio of 44.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. The company has a fifty day moving average of $136.79 and a 200 day moving average of $129.45. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data 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 net margin of 2.71% and a return on equity of 16.96%. On average, sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CBRE. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Evercore ISI dropped their price target on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Morgan Stanley upped their price target on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group began coverage on shares of CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Three investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group 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.