California State Teachers Retirement System Trims Stock Position in CBRE Group, Inc. (NYSE:CBRE)

California State Teachers Retirement System decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 542,350 shares of the financial services provider’s stock after selling 18,165 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of CBRE Group worth $36,614,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in CBRE Group by 5.2% during the 2nd quarter. FMR LLC now owns 10,999,939 shares of the financial services provider’s stock worth $809,706,000 after buying an additional 540,866 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of CBRE Group by 5.6% during the third quarter. Alliancebernstein L.P. now owns 5,745,316 shares of the financial services provider’s stock worth $387,866,000 after acquiring an additional 303,642 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CBRE Group by 6.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,871,048 shares of the financial services provider’s stock valued at $328,843,000 after acquiring an additional 279,500 shares during the period. JPMorgan Chase & Co. raised its position in CBRE Group by 9.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,239,306 shares of the financial services provider’s stock valued at $312,057,000 after purchasing an additional 369,875 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in CBRE Group by 692.8% during the 2nd quarter. Franklin Resources Inc. now owns 3,544,103 shares of the financial services provider’s stock worth $260,880,000 after purchasing an additional 3,097,072 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

CBRE has been the topic of a number of research reports. Citigroup began coverage on CBRE Group in a report on Friday, January 27th. They set a “buy” rating and a $100.00 price target on the stock. Raymond James dropped their target price on CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating on the stock in a report on Friday, January 20th. JPMorgan Chase & Co. increased their price target on CBRE Group from $80.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, March 3rd. StockNews.com started coverage on shares of CBRE Group in a research note on Thursday. They issued a “hold” rating on the stock. 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 equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.43.

CBRE Group Price Performance

CBRE Group stock opened at $73.87 on Friday. The company has a market cap of $22.89 billion, a P/E ratio of 17.30 and a beta of 1.38. CBRE Group, Inc. has a one year low of $66.31 and a one year high of $94.21. The business has a fifty day moving average of $84.26 and a two-hundred day moving average of $77.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03.

CBRE Group (NYSE:CBRE – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.19 by $0.14. CBRE Group had a net margin of 4.57% and a return on equity of 21.07%. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $7.97 billion. During the same quarter last year, the business earned $2.19 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts predict that CBRE Group, Inc. will post 5 earnings per share for the current fiscal year.

CBRE Group Company Profile

(Get Rating)

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.