Telemus Capital LLC boosted its stake in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,920 shares of the financial services provider’s stock after buying an additional 274 shares during the quarter. Telemus Capital LLC’s holdings in CBRE Group were worth $6,710,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in CBRE Group by 6.1% during the 1st quarter. HighTower Advisors LLC now owns 14,759 shares of the financial services provider’s stock valued at $1,344,000 after purchasing an additional 845 shares during the period. Vontobel Holding Ltd. grew its position in shares of CBRE Group by 7.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,053 shares of the financial services provider’s stock worth $839,000 after buying an additional 634 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of CBRE Group by 7,628.6% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,623 shares of the financial services provider’s stock worth $149,000 after buying an additional 1,602 shares during the last quarter. Covestor Ltd grew its position in shares of CBRE Group by 78.5% in the 1st quarter. Covestor Ltd now owns 1,085 shares of the financial services provider’s stock worth $99,000 after buying an additional 477 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in shares of CBRE Group in the 1st quarter worth approximately $259,000. Institutional investors own 96.07% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Raymond James dropped their target price on shares of CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 20th. JPMorgan Chase & Co. boosted their target price on shares of CBRE Group from $80.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, March 3rd. StockNews.com began coverage on shares of CBRE Group in a research report on Thursday. They set a “hold” rating on the stock. Citigroup initiated coverage on shares of CBRE Group in a research note on Friday, January 27th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut shares of CBRE Group from an “outperform” rating to a “market perform” rating and set a $88.00 target price for the company. in a research note on Thursday, January 26th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.43.
CBRE Group Price Performance
CBRE Group (NYSE:CBRE – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.19 by $0.14. The company had revenue of $8.19 billion during the quarter, compared to analyst estimates of $7.97 billion. CBRE Group had a net margin of 4.57% and a return on equity of 21.07%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.19 EPS. As a group, research analysts predict that CBRE Group, Inc. will post 5 EPS for the current fiscal year.
CBRE Group Company Profile
CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.
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