Bank of New York Mellon Corp Sells 17,492 Shares of CBRE Group, Inc. (NYSE:CBRE)

Bank of New York Mellon Corp decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,770,787 shares of the financial services provider’s stock after selling 17,492 shares during the quarter. Bank of New York Mellon Corp’s holdings in CBRE Group were worth $232,487,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Edge Capital Group LLC grew its position in CBRE Group by 6.9% during the fourth quarter. Edge Capital Group LLC now owns 1,986 shares of the financial services provider’s stock worth $261,000 after buying an additional 129 shares in the last quarter. IFP Advisors Inc lifted its position in shares of CBRE Group by 9.1% in the 4th quarter. IFP Advisors Inc now owns 1,203 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 100 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of CBRE Group during the fourth quarter valued at approximately $746,000. Forvis Mazars Wealth Advisors LLC acquired a new position in shares of CBRE Group in the fourth quarter valued at $1,835,000. Finally, Howard Capital Management Inc. lifted its position in CBRE Group by 4.7% in the fourth quarter. Howard Capital Management Inc. now owns 2,398 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup boosted their price target on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $155.00 to $152.00 in a report on Friday, January 24th. Finally, 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 target price for the company. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group Price Performance

CBRE Group stock opened at $139.65 on Friday. The stock has a market cap of $41.90 billion, a price-to-earnings ratio of 44.48 and a beta of 1.39. CBRE Group, Inc. has a 12-month low of $84.24 and a 12-month high of $147.75. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $137.07 and its 200 day simple moving average is $129.53.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping 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%. As a group, research analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share 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.