Wealthspire Advisors LLC Grows Position in CBRE Group, Inc. (NYSE:CBRE)

Wealthspire Advisors LLC grew its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 29.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,124 shares of the financial services provider’s stock after acquiring an additional 483 shares during the quarter. Wealthspire Advisors LLC’s holdings in CBRE Group were worth $279,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Algert Global LLC purchased a new position in CBRE Group during the third quarter worth $1,829,000. Hudson Valley Investment Advisors Inc. ADV purchased a new position in CBRE Group during the fourth quarter worth $1,518,000. Merit Financial Group LLC purchased a new position in CBRE Group during the fourth quarter worth $256,000. Fulton Bank N.A. increased its position in CBRE Group by 342.0% during the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after buying an additional 19,227 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its position in CBRE Group by 17,304.5% during the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after buying an additional 3,807 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CBRE shares. Citigroup raised their price target on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group assumed coverage on CBRE Group in a research report on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective for the company. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $163.00 in a research report on Monday, December 16th. Evercore ISI lowered their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $133.00 to $152.00 in a research report 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.89.

CBRE Group Price Performance

CBRE stock opened at $139.65 on Friday. The stock has a 50-day moving average price of $137.07 and a two-hundred day moving average price of $129.53. CBRE Group, Inc. has a 12-month low of $84.24 and a 12-month high of $147.75. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The company has a market cap of $41.90 billion, a PE ratio of 44.48 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. As a group, research analysts predict that CBRE Group, Inc. will post 5.99 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.