Principal Financial Group Inc. Has $998.04 Million Stake in CBRE Group, Inc. (NYSE:CBRE)

Principal Financial Group Inc. grew its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,601,790 shares of the financial services provider’s stock after buying an additional 177,119 shares during the quarter. Principal Financial Group Inc.’s holdings in CBRE Group were worth $998,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in shares of CBRE Group by 680.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 624 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 544 shares in the last quarter. Creative Planning raised its stake in shares of CBRE Group by 5.9% in the 3rd quarter. Creative Planning now owns 37,804 shares of the financial services provider’s stock valued at $4,706,000 after acquiring an additional 2,092 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of CBRE Group by 6.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,845 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 314 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of CBRE Group by 0.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 33,068 shares of the financial services provider’s stock valued at $4,116,000 after acquiring an additional 206 shares in the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in shares of CBRE Group in the 3rd quarter valued at approximately $232,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Stock Performance

CBRE opened at $143.89 on Monday. The stock has a market cap of $44.03 billion, a PE ratio of 46.27 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group, Inc. has a 1 year low of $84.24 and a 1 year high of $147.75. The stock’s 50 day simple moving average is $136.08 and its 200-day simple moving average is $127.70.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data 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 13.91% and a net margin of 2.79%. Sell-side analysts forecast that CBRE Group, Inc. will post 4.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CBRE. Morgan Stanley raised CBRE Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $115.00 to $160.00 in a research report on Wednesday, January 15th. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Evercore ISI dropped their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Citigroup lifted their price target on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CBRE Group presently has an average rating of “Moderate Buy” and a consensus target price of $149.33.

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.