New York State Common Retirement Fund Has $72.67 Million Position in CBRE Group, Inc. $CBRE

by · The Cerbat Gem

New York State Common Retirement Fund cut its holdings in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 518,600 shares of the financial services provider’s stock after selling 3,204 shares during the quarter. New York State Common Retirement Fund’s holdings in CBRE Group were worth $72,666,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CBRE. Norges Bank bought a new position in shares of CBRE Group during the 2nd quarter valued at $544,554,000. Nuveen LLC bought a new stake in CBRE Group in the first quarter worth $214,283,000. JPMorgan Chase & Co. increased its position in CBRE Group by 24.7% during the first quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider’s stock worth $487,127,000 after buying an additional 738,704 shares during the last quarter. Invesco Ltd. raised its holdings in CBRE Group by 6.6% during the first quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider’s stock valued at $837,938,000 after buying an additional 397,818 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of CBRE Group in the second quarter worth about $48,383,000. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

NYSE:CBRE opened at $161.73 on Friday. The stock has a market cap of $48.13 billion, a P/E ratio of 39.93 and a beta of 1.39. CBRE Group, Inc. has a one year low of $108.45 and a one year high of $171.00. The company has a fifty day moving average price of $156.00 and a 200 day moving average price of $149.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE – Get Free Report) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.15. The company had revenue of $10.26 billion for the quarter, compared to analyst estimates of $10.11 billion. CBRE Group had a net margin of 3.12% and a return on equity of 20.55%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the business posted $1.20 EPS. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. Analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CBRE shares. Morgan Stanley increased their price objective on CBRE Group from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Evercore ISI increased their price target on CBRE Group from $164.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, August 25th. JPMorgan Chase & Co. lifted their price target on shares of CBRE Group from $143.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $167.00 to $168.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Finally, Wall Street Zen upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.38.

Check Out Our Latest Report on CBRE Group

CBRE Group Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBRE – Free Report).