Crossmark Global Holdings Inc. Invests $1.87 Million in CBRE Group Inc (CBRE) Stock
Crossmark Global Holdings Inc. acquired a new position in shares of CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 39,170 shares of the financial services provider’s stock, valued at approximately $1,870,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CBRE. Wells Fargo & Company MN bought a new stake in CBRE Group in the third quarter valued at $301,769,000. Sterling Capital Management LLC bought a new stake in CBRE Group in the third quarter valued at $142,352,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in CBRE Group in the third quarter valued at $133,879,000. Victory Capital Management Inc. bought a new stake in CBRE Group in the third quarter valued at $48,127,000. Finally, Russell Investments Group Ltd. bought a new stake in CBRE Group in the third quarter valued at $35,227,000. Hedge funds and other institutional investors own 94.53% of the company’s stock.
CBRE has been the topic of a number of recent research reports. Bank of America cut their target price on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. ValuEngine lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, Barclays raised their price target on CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 30th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $52.56.
Shares of CBRE opened at $42.99 on Friday. The firm has a market cap of $14.82 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.76. The company has a current ratio of 1.06, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. CBRE Group Inc has a one year low of $38.05 and a one year high of $50.43.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.17 billion. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Sell-side analysts anticipate that CBRE Group Inc will post 3.2 EPS for the current year.
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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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