OLD National Bancorp IN Grows Holdings in CBRE Group, Inc. (NYSE:CBRE)

Posted by Defense World Staff on Apr 25th, 2023

OLD National Bancorp IN increased its position in CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,217 shares of the financial services provider’s stock after acquiring an additional 165 shares during the quarter. OLD National Bancorp IN’s holdings in CBRE Group were worth $555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cooke & Bieler LP bought a new position in CBRE Group in the 3rd quarter worth $90,882,000. Allspring Global Investments Holdings LLC lifted its holdings in CBRE Group by 17.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,727,070 shares of the financial services provider’s stock worth $440,755,000 after purchasing an additional 856,022 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in CBRE Group by 150.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,320,100 shares of the financial services provider’s stock worth $120,816,000 after purchasing an additional 792,717 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in CBRE Group in the 3rd quarter worth approximately $38,522,000. Finally, Goldman Sachs Group Inc. lifted its holdings in CBRE Group by 37.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,361,386 shares of the financial services provider’s stock worth $100,212,000 after purchasing an additional 368,674 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBRE has been the topic of a number of research reports. Raymond James reduced their price target on shares of CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating on the stock in a report on Friday, January 20th. Citigroup cut their price target on CBRE Group from $100.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, March 28th. StockNews.com started coverage on CBRE Group in a report on Thursday, March 16th. They set a “hold” rating for the company. The Goldman Sachs Group cut their price target on CBRE Group from $103.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CBRE Group from $80.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, March 3rd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and an average target price of $89.86.

CBRE Group Trading Down 1.1 %

CBRE stock opened at $71.07 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. CBRE Group, Inc. has a twelve month low of $66.31 and a twelve month high of $89.58. The stock has a market capitalization of $22.09 billion, a price-to-earnings ratio of 16.64 and a beta of 1.36. The firm’s fifty day simple moving average is $77.29 and its two-hundred day simple moving average is $77.28.

CBRE Group (NYSE:CBRE – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. CBRE Group had a net margin of 4.57% and a return on equity of 21.07%. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $7.97 billion. During the same quarter in the previous year, the business posted $2.19 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. As a group, analysts anticipate that CBRE Group, Inc. will post 4.96 earnings per share for the current year.

CBRE Group Company Profile

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CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.