Ifrah Financial Services Inc. acquired a new position in CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 11,046 shares of the financial services provider’s stock, valued at approximately $487,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Andra AP fonden purchased a new position in CBRE Group during the 3rd quarter valued at about $9,618,000. Jaffetilchin Investment Partners LLC bought a new stake in CBRE Group during the 3rd quarter valued at approximately $493,000. Aurora Investment Counsel bought a new stake in CBRE Group during the 3rd quarter valued at approximately $1,716,000. Retirement Systems of Alabama boosted its position in CBRE Group by 0.8% during the 3rd quarter. Retirement Systems of Alabama now owns 457,944 shares of the financial services provider’s stock valued at $20,195,000 after acquiring an additional 3,791 shares in the last quarter. Finally, OLD National Bancorp IN bought a new stake in CBRE Group during the 3rd quarter valued at approximately $1,287,000. Hedge funds and other institutional investors own 94.53% of the company’s stock.
Several research firms have weighed in on CBRE. ValuEngine cut CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Bank of America cut their price objective on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Monday, August 6th. Finally, Barclays lifted their price objective on CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 30th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. CBRE Group has an average rating of “Buy” and a consensus target price of $52.56.
Shares of CBRE opened at $42.81 on Wednesday. The company has a market capitalization of $14.18 billion, a PE ratio of 15.80, a P/E/G ratio of 1.01 and a beta of 1.76. CBRE Group Inc has a 52 week low of $38.05 and a 52 week high of $50.43. The company has a current ratio of 1.06, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40.
CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. The business had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.17 billion. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. CBRE Group’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, analysts forecast that CBRE Group Inc will post 3.2 earnings per share for the current fiscal year.
In related news, CEO William F. Concannon sold 28,878 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $47.47, for a total value of $1,370,838.66. Following the transaction, the chief executive officer now directly owns 204,631 shares of the company’s stock, valued at approximately $9,713,833.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.
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CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.
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