Alphinity Investment Management Pty Ltd Acquires New Shares in CBRE Group, Inc. (NYSE:CBRE)

Alphinity Investment Management Pty Ltd acquired a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,452,473 shares of the financial services provider’s stock, valued at approximately $190,695,000. CBRE Group accounts for approximately 1.0% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its 26th biggest holding. Alphinity Investment Management Pty Ltd owned 0.47% of CBRE Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC increased its stake in CBRE Group by 1.2% in the 3rd quarter. Private Advisor Group LLC now owns 7,688 shares of the financial services provider’s stock worth $957,000 after acquiring an additional 90 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in CBRE Group by 23.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,335 shares of the financial services provider’s stock worth $3,121,000 after acquiring an additional 4,743 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in CBRE Group by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,055 shares of the financial services provider’s stock worth $2,123,000 after acquiring an additional 334 shares during the last quarter. Integrated Advisors Network LLC bought a new position in CBRE Group in the 3rd quarter worth about $258,000. Finally, Fidelis Capital Partners LLC increased its stake in CBRE Group by 2.1% in the 3rd quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 82 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Stock Up 1.4 %

Shares of NYSE CBRE opened at $140.63 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75. The firm’s fifty day moving average is $136.79 and its 200 day moving average is $129.45. The company has a market cap of $42.19 billion, a price-to-earnings ratio of 44.79 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. On average, equities research analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Raymond James lowered CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Citigroup upped their target price on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Evercore ISI reduced their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Morgan Stanley increased their price objective on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group 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.