Vivid Wealth Management LLC Takes $2.26 Million Position in CBRE Group, Inc. (NYSE:CBRE)

Vivid Wealth Management LLC acquired a new position in shares of CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,219 shares of the financial services provider’s stock, valued at approximately $2,261,000.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp grew its stake in shares of CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after purchasing an additional 692,697 shares during the period. Geode Capital Management LLC grew its stake in shares of CBRE Group by 0.7% during the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after purchasing an additional 56,888 shares during the period. FMR LLC grew its stake in shares of CBRE Group by 85.6% during the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after purchasing an additional 3,498,244 shares during the period. Principal Financial Group Inc. grew its stake in shares of CBRE Group by 3.9% during the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after purchasing an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of CBRE Group by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after purchasing an additional 49,732 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBRE has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 price objective for the company. Citigroup boosted their target price on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Evercore ISI decreased their target price on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Raymond James cut CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $155.00 to $152.00 in a research note on Friday, January 24th. Finally, Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.33.

CBRE Group Stock Performance

CBRE opened at $143.89 on Friday. CBRE Group, Inc. has a 52-week low of $84.24 and a 52-week high of $147.75. The firm has a market capitalization of $44.03 billion, a PE ratio of 46.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The business’s 50-day simple moving average is $135.96 and its 200 day simple moving average is $127.36.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. As a group, sell-side analysts expect that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal 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.