SVB Wealth LLC Buys New Position in CBRE Group, Inc. (NYSE:CBRE)

SVB Wealth LLC purchased a new position in shares of CBRE Group, Inc. (NYSE:CBRE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,192 shares of the financial services provider’s stock, valued at approximately $944,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CBRE. Algert Global LLC bought a new stake in CBRE Group in the third quarter worth approximately $1,829,000. Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of CBRE Group in the 4th quarter valued at $1,518,000. Merit Financial Group LLC acquired a new position in shares of CBRE Group during the 4th quarter valued at $256,000. Fulton Bank N.A. lifted its position in shares of CBRE Group by 342.0% during the 4th quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after acquiring an additional 19,227 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its stake in CBRE Group by 17,304.5% during the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 3,807 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CBRE. The Goldman Sachs Group began coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price target for the company. Keefe, Bruyette & Woods increased their price target on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a report on Friday, February 14th. Evercore ISI decreased their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Raymond James lowered CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $163.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Price Performance

CBRE opened at $140.56 on Tuesday. CBRE Group, Inc. has a 1 year low of $84.24 and a 1 year high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The company has a market capitalization of $42.17 billion, a price-to-earnings ratio of 44.76 and a beta of 1.39. The firm’s fifty day moving average price is $137.52 and its two-hundred day moving average price is $130.25.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share 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%. As a group, analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

About CBRE Group

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.