Skandinaviska Enskilda Banken AB publ Purchases Shares of 47,371 CBRE Group Inc (CBRE)
Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 47,371 shares of the financial services provider’s stock, valued at approximately $2,089,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dupont Capital Management Corp bought a new position in CBRE Group during the third quarter valued at about $2,772,000. Picton Mahoney Asset Management bought a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $5,211,000. Park Avenue Securities LLC bought a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $260,000. Penserra Capital Management LLC bought a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $1,814,000. Finally, Suncoast Equity Management bought a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $15,439,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Bank of America lowered their price objective 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. ValuEngine lowered CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Barclays upped their price objective on CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 30th. Finally, Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Monday, August 6th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $52.56.
CBRE stock opened at $43.72 on Friday. CBRE Group Inc has a 1-year low of $38.05 and a 1-year high of $50.43. The company has a market capitalization of $14.63 billion, a PE ratio of 16.13, a P/E/G ratio of 1.03 and a beta of 1.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.13 and a current ratio of 1.16.
CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. The company had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.17 billion. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts forecast that CBRE Group Inc will post 3.2 earnings per share for the current year.
CBRE Group Company Profile
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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