Evercore Wealth Management LLC bought a new position in CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,428,491 shares of the financial services provider’s stock, valued at approximately $62,996,000. CBRE Group accounts for approximately 2.0% of Evercore Wealth Management LLC’s holdings, making the stock its 12th largest position. Evercore Wealth Management LLC owned 0.42% of CBRE Group as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in CBRE Group in the third quarter worth $1,011,772,000. JPMorgan Chase & Co. acquired a new stake in CBRE Group in the third quarter worth $638,351,000. FMR LLC acquired a new position in shares of CBRE Group during the third quarter valued at $327,956,000. Janus Henderson Group PLC acquired a new position in shares of CBRE Group during the third quarter valued at $320,705,000. Finally, Cantillon Capital Management LLC acquired a new position in shares of CBRE Group during the third quarter valued at $311,569,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on CBRE. Bank of America lowered their price target on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Barclays raised their price target on CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 30th. Finally, ValuEngine lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $52.56.
NYSE:CBRE opened at $41.74 on Thursday. The stock has a market cap of $14.23 billion, a P/E ratio of 15.40, a PEG ratio of 1.00 and a beta of 1.78. 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 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37.
CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, November 1st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $5.26 billion for the quarter, compared to analyst estimates 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 was up 13.4% on a year-over-year basis. Sell-side analysts anticipate that CBRE Group Inc will post 3.2 earnings per share for the current fiscal year.
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CBRE Group 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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