Texas Permanent School Fund Sells 554 Shares of CBRE Group, Inc. (NYSE:CBRE)

Posted by on May 8th, 2023

Texas Permanent School Fund decreased its holdings in CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,890 shares of the financial services provider’s stock after selling 554 shares during the quarter. Texas Permanent School Fund’s holdings in CBRE Group were worth $3,455,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Cooke & Bieler LP bought a new position in shares of CBRE Group during the 3rd quarter worth about $90,882,000. Allspring Global Investments Holdings LLC increased its stake in shares of CBRE Group by 17.6% during 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 during the last quarter. Renaissance Technologies LLC boosted 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 buying an additional 792,717 shares during the period. Great West Life Assurance Co. Can bought a new position in CBRE Group in the 3rd quarter worth approximately $38,522,000. Finally, Goldman Sachs Group Inc. boosted 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 buying an additional 368,674 shares during the period. Institutional investors own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Raymond James cut their price target on shares of CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating for the company in a report on Friday, January 20th. StockNews.com started coverage on shares of CBRE Group in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lowered shares of CBRE Group from an “outperform” rating to a “market perform” rating and set a $88.00 target price on the stock. in a research note on Thursday, January 26th. Citigroup dropped their price objective on shares of CBRE Group from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, March 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of CBRE Group from $103.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.86.

CBRE Group Stock Up 1.2 %

CBRE opened at $74.55 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $74.51 and a 200-day moving average price of $77.60. 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 $23.17 billion, a price-to-earnings ratio of 21.42 and a beta of 1.36.

CBRE Group (NYSE:CBRE – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. CBRE Group had a net margin of 3.66% and a return on equity of 19.40%. The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same quarter last year, the business earned $1.39 earnings per share. CBRE Group’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that CBRE Group, Inc. will post 4.94 earnings per share for the current year.

CBRE Group 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.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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