Cooke & Bieler LP Has $101.78 Million Position in CBRE Group, Inc. $CBRE

Cooke & Bieler LP cut its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 37.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 645,944 shares of the financial services provider’s stock after selling 389,121 shares during the quarter. Cooke & Bieler LP owned approximately 0.22% of CBRE Group worth $101,775,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CBRE. Sawgrass Asset Management LLC grew its stake in CBRE Group by 12.8% in the third quarter. Sawgrass Asset Management LLC now owns 4,679 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 530 shares during the period. CIBC Asset Management Inc lifted its position in CBRE Group by 0.5% in the 3rd quarter. CIBC Asset Management Inc now owns 49,643 shares of the financial services provider’s stock valued at $7,822,000 after acquiring an additional 226 shares in the last quarter. Sagespring Wealth Partners LLC boosted its stake in CBRE Group by 12.4% during the 3rd quarter. Sagespring Wealth Partners LLC now owns 4,651 shares of the financial services provider’s stock valued at $733,000 after purchasing an additional 513 shares during the last quarter. Trek Financial LLC bought a new stake in CBRE Group during the third quarter worth $4,671,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of CBRE Group in the 3rd quarter worth $2,475,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Trading Down 0.5%

Shares of CBRE Group stock opened at $169.25 on Monday. The stock has a market capitalization of $50.37 billion, a P/E ratio of 41.79 and a beta of 1.34. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $173.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s 50-day simple moving average is $162.09 and its 200 day simple moving average is $158.01.

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

Wall Street Analyst Weigh In

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

CBRE Group Company 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.