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

Wakefield Asset Management LLLP bought a new stake in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 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 biggest holding.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on CBRE shares. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Citigroup boosted their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Evercore ISI lowered their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. Finally, Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Price Performance

CBRE Group stock opened at $139.65 on Friday. 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 stock has a market cap of $41.90 billion, a price-to-earnings ratio of 44.48 and a beta of 1.39. The firm has a 50-day moving average of $137.07 and a two-hundred day moving average of $129.53. CBRE Group, Inc. has a 1 year low of $84.24 and a 1 year high of $147.75.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (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%. On average, research analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

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.