CBRE Group, Inc. $CBRE Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,858 shares of the financial services provider’s stock after selling 15,984 shares during the period. Resona Asset Management Co. Ltd.’s holdings in CBRE Group were worth $22,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CBRE. Donoghue Forlines LLC bought a new position in CBRE Group during the 3rd quarter valued at $2,104,000. KBC Group NV raised its stake in shares of CBRE Group by 4.4% in the 2nd quarter. KBC Group NV now owns 248,956 shares of the financial services provider’s stock valued at $34,883,000 after purchasing an additional 10,438 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of CBRE Group by 27.1% during the third quarter. Nordea Investment Management AB now owns 406,963 shares of the financial services provider’s stock worth $63,474,000 after purchasing an additional 86,774 shares during the last quarter. Choreo LLC grew its stake in CBRE Group by 42.0% in the second quarter. Choreo LLC now owns 10,129 shares of the financial services provider’s stock worth $1,419,000 after purchasing an additional 2,995 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in CBRE Group by 57.3% in the second quarter. Balyasny Asset Management L.P. now owns 829,150 shares of the financial services provider’s stock valued at $116,180,000 after buying an additional 301,980 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CBRE. Keefe, Bruyette & Woods increased their target price on CBRE Group from $185.00 to $192.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. UBS Group raised their price objective on CBRE Group from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Barclays boosted their target price on shares of CBRE Group from $190.00 to $192.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Morgan Stanley raised their price target on shares of CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CBRE Group in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and a consensus price target of $182.14.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $169.25 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $50.37 billion, a PE ratio of 41.79 and a beta of 1.34. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $173.05. The business’s fifty day moving average price is $162.09 and its two-hundred day moving average price is $157.89.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.46 by $0.15. The business had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.11 billion. CBRE Group had a net margin of 3.12% and a return on equity of 20.55%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. On average, research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

CBRE Group Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.