Skandinaviska Enskilda Banken AB publ cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE – Free Report) by 78.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,198 shares of the financial services provider’s stock after selling 228,095 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in CBRE Group were worth $4,594,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC lifted its stake in CBRE Group by 6.1% in the 1st quarter. HighTower Advisors LLC now owns 14,759 shares of the financial services provider’s stock valued at $1,344,000 after buying an additional 845 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in CBRE Group by 7.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,053 shares of the financial services provider’s stock valued at $839,000 after buying an additional 634 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in CBRE Group by 7,628.6% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,623 shares of the financial services provider’s stock valued at $149,000 after buying an additional 1,602 shares in the last quarter. Covestor Ltd lifted its stake in CBRE Group by 78.5% in the 1st quarter. Covestor Ltd now owns 1,085 shares of the financial services provider’s stock valued at $99,000 after buying an additional 477 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in CBRE Group in the 1st quarter valued at about $259,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Raymond James raised their price target on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. Evercore ISI lowered shares of CBRE Group from an “outperform” rating to an “in-line” rating and raised their price target for the company from $79.00 to $96.00 in a research note on Wednesday, January 3rd. TheStreet raised shares of CBRE Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 25th. Finally, UBS Group decreased their target price on shares of CBRE Group from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 22nd. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.29.
CBRE Group Trading Up 2.0 %
CBRE opened at $88.25 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.19 and a quick ratio of 1.19. The company’s 50 day simple moving average is $87.27 and its two-hundred day simple moving average is $81.10. CBRE Group, Inc. has a 1-year low of $64.63 and a 1-year high of $94.27. The firm has a market capitalization of $26.90 billion, a price-to-earnings ratio of 47.19 and a beta of 1.43.
About CBRE Group
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 of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, 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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