New York State Common Retirement Fund Raises Position in CBRE Group, Inc. (NYSE:CBRE)

New York State Common Retirement Fund raised its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 8.0% during the 4th quarter, HoldingsChannel reports. The fund owned 535,190 shares of the financial services provider’s stock after acquiring an additional 39,604 shares during the quarter. New York State Common Retirement Fund’s holdings in CBRE Group were worth $70,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Canton Hathaway LLC bought a new stake in shares of CBRE Group during the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in shares of CBRE Group during the 3rd quarter valued at $32,000. Catalyst Capital Advisors LLC raised its position in shares of CBRE Group by 190.4% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 238 shares during the period. CENTRAL TRUST Co raised its position in shares of CBRE Group by 165.9% during the 4th quarter. CENTRAL TRUST Co now owns 484 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 302 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of CBRE Group by 3,969.2% during the 4th quarter. Versant Capital Management Inc now owns 529 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 516 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CBRE. Raymond James downgraded shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $155.00 to $152.00 in a research report on Friday, January 24th. Citigroup lifted their price target on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI reduced their price target on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $163.00 in a report on Monday, December 16th. Finally, The Goldman Sachs Group initiated coverage on shares of CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $143.62 on Thursday. The company has a market capitalization of $43.95 billion, a price-to-earnings ratio of 45.74 and a beta of 1.39. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The firm’s 50-day moving average is $136.37 and its 200 day moving average is $128.26. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

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