Abacus Planning Group Inc. Makes New Investment in CBRE Group, Inc. (NYSE:CBRE)

Abacus Planning Group Inc. bought a new position in CBRE Group, Inc. (NYSE:CBRE) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,584 shares of the financial services provider’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CBRE. Canton Hathaway LLC acquired a new stake in shares of CBRE Group during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of CBRE Group during the third quarter worth approximately $32,000. Catalyst Capital Advisors LLC boosted its holdings in shares of CBRE Group by 190.4% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 238 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of CBRE Group by 165.9% during the fourth quarter. CENTRAL TRUST Co now owns 484 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 302 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of CBRE Group by 3,969.2% during the fourth quarter. Versant Capital Management Inc now owns 529 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 516 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CBRE has been the subject of several research reports. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Evercore ISI cut their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $133.00 to $152.00 in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and an average target price of $149.89.

CBRE Group Trading Down 0.1 %

NYSE:CBRE opened at $143.62 on Thursday. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The firm has a market cap of $43.95 billion, a price-to-earnings ratio of 45.74 and a beta of 1.39. 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 company’s 50 day moving average is $136.37 and its 200-day moving average is $128.26.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Equities analysts anticipate that CBRE Group, Inc. will post 6 EPS for the current year.

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.