Metropolitan Life Insurance Co NY decreased its stake in CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 47.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,302 shares of the financial services provider’s stock after selling 18,409 shares during the period. Metropolitan Life Insurance Co NY’s holdings in CBRE Group were worth $1,858,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in CBRE. Norges Bank bought a new stake in CBRE Group during the 4th quarter valued at $347,784,000. State Street Corp boosted its stake in CBRE Group by 6.0% in the 4th quarter. State Street Corp now owns 14,871,950 shares of the financial services provider’s stock worth $1,613,755,000 after purchasing an additional 846,053 shares during the period. Assenagon Asset Management S.A. grew its holdings in CBRE Group by 345.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 941,612 shares of the financial services provider’s stock valued at $86,176,000 after buying an additional 730,172 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of CBRE Group by 27,501.5% during the fourth quarter. 1832 Asset Management L.P. now owns 633,178 shares of the financial services provider’s stock valued at $69,426,000 after buying an additional 630,884 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of CBRE Group by 95.7% in the fourth quarter. Millennium Management LLC now owns 942,635 shares of the financial services provider’s stock worth $102,285,000 after buying an additional 460,866 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on CBRE shares. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Evercore ISI upped their price target on shares of CBRE Group to $96.00 in a report on Monday, August 15th. Finally, Raymond James lifted their price objective on CBRE Group from $110.00 to $113.00 and gave the company a “strong-buy” rating in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CBRE Group currently has an average rating of “Buy” and a consensus price target of $110.20.
CBRE Group Stock Down 0.5 %
CBRE Group (NYSE:CBRE – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.39 by $0.44. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.72 billion. CBRE Group had a return on equity of 25.77% and a net margin of 6.59%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. As a group, research analysts anticipate that CBRE Group, Inc. will post 6.13 EPS for the current fiscal year.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.
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