CBRE Group, Inc. (NYSE:CBRE) Shares Bought by Pitcairn Co.

Pitcairn Co. lifted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 14.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,465 shares of the financial services provider’s stock after buying an additional 443 shares during the quarter. Pitcairn Co.’s holdings in CBRE Group were worth $337,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CBRE. Principal Securities Inc. acquired a new stake in CBRE Group in the fourth quarter valued at $844,000. Quantbot Technologies LP purchased a new position in shares of CBRE Group in the 1st quarter valued at about $1,118,000. Nordea Investment Management AB raised its position in shares of CBRE Group by 1,730.4% during the 1st quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider’s stock worth $38,550,000 after acquiring an additional 372,870 shares in the last quarter. AJOVista LLC purchased a new stake in CBRE Group during the fourth quarter worth approximately $208,000. Finally, Fisher Asset Management LLC boosted its holdings in CBRE Group by 103.8% in the fourth quarter. Fisher Asset Management LLC now owns 44,065 shares of the financial services provider’s stock valued at $4,102,000 after purchasing an additional 22,442 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CBRE. Morgan Stanley began coverage on shares of CBRE Group in a report on Thursday. They set an “equal weight” rating and a $105.00 price objective on the stock. Jefferies Financial Group began coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 target price for the company. Keefe, Bruyette & Woods upped their price objective on CBRE Group from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday. Evercore ISI increased their price objective on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 2nd. Finally, Raymond James boosted their target price on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.14.

CBRE Group Price Performance

CBRE Group stock traded up $9.06 during midday trading on Thursday, reaching $107.36. The company’s stock had a trading volume of 4,433,613 shares, compared to its average volume of 1,663,046. The firm has a market capitalization of $32.94 billion, a PE ratio of 34.28 and a beta of 1.40. CBRE Group, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $110.55. The stock’s 50 day simple moving average is $89.89 and its 200 day simple moving average is $89.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.15.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.69 by $0.09. CBRE Group had a net margin of 3.06% and a return on equity of 12.96%. The firm had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter last year, the business earned $0.92 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that CBRE Group, Inc. will post 4.48 earnings per share 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.