Allstate Corp Makes New Investment in CBRE Group, Inc. $CBRE

Allstate Corp acquired a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,476 shares of the financial services provider’s stock, valued at approximately $1,808,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quantum Portfolio Management LLC increased its holdings in shares of CBRE Group by 50.3% in the 3rd quarter. Quantum Portfolio Management LLC now owns 13,554 shares of the financial services provider’s stock valued at $2,136,000 after purchasing an additional 4,537 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of CBRE Group by 13.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,472,013 shares of the financial services provider’s stock valued at $704,610,000 after acquiring an additional 532,151 shares during the last quarter. Donoghue Forlines LLC purchased a new position in CBRE Group during the third quarter worth approximately $2,104,000. Nippon Life Global Investors Americas Inc. increased its stake in CBRE Group by 3.1% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 195,770 shares of the financial services provider’s stock worth $30,846,000 after acquiring an additional 5,850 shares during the last quarter. Finally, Resonant Capital Advisors LLC acquired a new stake in CBRE Group during the 3rd quarter worth approximately $214,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analysts Set New Price Targets

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

CBRE Group Price Performance

CBRE opened at $165.43 on Wednesday. The stock has a market cap of $49.23 billion, a price-to-earnings ratio of 40.85 and a beta of 1.34. The stock has a fifty day moving average price of $161.14 and a 200 day moving average price of $157.40. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49. CBRE Group, Inc. has a 1 year low of $108.45 and a 1 year high of $173.05.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.15. The firm had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.11 billion. CBRE Group had a net margin of 3.12% and a return on equity of 20.55%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. Analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

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.