Wakefield Asset Management LLLP Invests $3.50 Million in CBRE Group, Inc. (NYSE:CBRE)

Wakefield Asset Management LLLP acquired a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 26,619 shares of the financial services provider’s stock, valued at approximately $3,495,000. CBRE Group makes up about 1.2% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 26th largest position.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in CBRE Group by 5.4% during the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after acquiring an additional 692,697 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CBRE Group by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after purchasing an additional 56,888 shares during the last quarter. Principal Financial Group Inc. boosted its position in CBRE Group by 2.4% during the fourth quarter. Principal Financial Group Inc. now owns 7,601,790 shares of the financial services provider’s stock valued at $998,039,000 after purchasing an additional 177,119 shares in the last quarter. FMR LLC grew its stake in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in CBRE Group by 12.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,983,867 shares of the financial services provider’s stock worth $391,752,000 after purchasing an additional 338,298 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Down 0.7 %

CBRE Group stock opened at $139.65 on Friday. The business’s 50-day simple moving average is $137.07 and its two-hundred day simple moving average is $129.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. The company has a market cap of $41.90 billion, a PE ratio of 44.48 and a beta of 1.39. CBRE Group, Inc. has a fifty-two week low of $84.24 and a fifty-two week high of $147.75.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. Equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CBRE. Citigroup raised their price target on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Raymond James lowered CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $155.00 to $152.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Finally, Keefe, Bruyette & Woods upped their target price on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.