Jennison Associates LLC trimmed its position in shares of CBRE Group Inc (NYSE:CBRE) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,368,868 shares of the financial services provider’s stock after selling 116,215 shares during the quarter. Jennison Associates LLC owned 0.41% of CBRE Group worth $70,223,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hexavest Inc. bought a new position in shares of CBRE Group during the second quarter worth $30,000. Rational Advisors LLC boosted its position in shares of CBRE Group by 347.6% during the first quarter. Rational Advisors LLC now owns 640 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 497 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CBRE Group during the second quarter worth $33,000. Enterprise Financial Services Corp boosted its position in shares of CBRE Group by 680.6% during the second quarter. Enterprise Financial Services Corp now owns 765 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 667 shares in the last quarter. Finally, Carroll Financial Associates Inc. boosted its position in shares of CBRE Group by 115.7% during the second quarter. Carroll Financial Associates Inc. now owns 798 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 428 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on CBRE. Raymond James lifted their price target on shares of CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. UBS Group lifted their price target on shares of CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Compass Point assumed coverage on shares of CBRE Group in a research report on Wednesday, July 10th. They set a “neutral” rating and a $54.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $57.83.
CBRE traded down $2.60 during trading on Friday, hitting $49.26. The company had a trading volume of 1,782,780 shares, compared to its average volume of 1,375,461. The company has a market capitalization of $17.44 billion, a PE ratio of 15.02, a PEG ratio of 1.26 and a beta of 1.70. CBRE Group Inc has a one year low of $37.45 and a one year high of $56.47. The firm’s 50-day moving average price is $52.43 and its 200 day moving average price is $50.35. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.51.
CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.59 billion. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. Sell-side analysts forecast that CBRE Group Inc will post 3.75 earnings per share for the current year.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.
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