State Street Corp Has $1.67 Billion Holdings in CBRE Group, Inc. (NYSE:CBRE)

State Street Corp boosted its holdings in CBRE Group, Inc. (NYSE:CBRE) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,433,513 shares of the financial services provider’s stock after acquiring an additional 692,697 shares during the quarter. State Street Corp owned 4.39% of CBRE Group worth $1,672,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Canton Hathaway LLC purchased a new position in shares of CBRE Group during the third quarter valued at approximately $27,000. American National Bank & Trust purchased a new position in CBRE Group during the 3rd quarter worth $28,000. Benjamin F. Edwards & Company Inc. boosted its holdings in CBRE Group by 190.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of CBRE Group in the third quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of CBRE Group by 2,830.0% in the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 283 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CBRE. Evercore ISI boosted their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. The Goldman Sachs Group initiated coverage on CBRE Group in a research report on Friday. They issued a “buy” rating and a $176.00 price objective on the stock. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Citigroup boosted their price target on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.63.

CBRE Group Stock Up 1.1 %

CBRE Group stock opened at $137.88 on Friday. The firm has a 50 day simple moving average of $129.97 and a 200 day simple moving average of $111.60. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a 1-year low of $80.97 and a 1-year high of $142.00. The firm has a market capitalization of $42.19 billion, a price-to-earnings ratio of 44.33 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the previous year, the company posted $0.72 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now directly owns 70,154 shares in the company, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by company insiders.

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.