CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in CBRE Group, Inc. (NYSE:CBRE) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,594 shares of the financial services provider’s stock after selling 2,666 shares during the quarter. Truist Financial Corp’s holdings in CBRE Group were worth $17,146,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CBRE. Algert Global LLC acquired a new position in shares of CBRE Group during the third quarter valued at $1,829,000. Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of CBRE Group during the fourth quarter valued at $1,518,000. Merit Financial Group LLC acquired a new position in shares of CBRE Group during the fourth quarter valued at $256,000. Fulton Bank N.A. boosted its holdings in shares of CBRE Group by 342.0% during the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after acquiring an additional 19,227 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of CBRE Group by 17,304.5% during the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock valued at $477,000 after acquiring an additional 3,807 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of CBRE Group stock opened at $143.62 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $136.37 and its two-hundred day moving average price is $128.26. CBRE Group, Inc. has a 52 week low of $84.24 and a 52 week high of $147.75. The stock has a market cap of $43.95 billion, a PE ratio of 45.74 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. As a group, sell-side analysts anticipate that CBRE Group, Inc. will post 6 EPS for the current fiscal year.

Analyst Ratings Changes

CBRE has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $163.00 in a report on Monday, December 16th. Evercore ISI reduced their price target 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. Morgan Stanley boosted their price target on shares of CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup upped their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.89.

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.