Nordea Investment Management AB Has $1.51 Million Stake in CBRE Group, Inc. (NYSE:CBRE)

Posted by on May 13th, 2023

Nordea Investment Management AB decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,634 shares of the financial services provider’s stock after selling 1,180 shares during the period. Nordea Investment Management AB’s holdings in CBRE Group were worth $1,512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its holdings in shares of CBRE Group by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 5,745,316 shares of the financial services provider’s stock worth $387,866,000 after purchasing an additional 303,642 shares during the period. Allspring Global Investments Holdings LLC increased its holdings 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 period. Dimensional Fund Advisors LP increased its holdings in shares of CBRE Group by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,959,508 shares of the financial services provider’s stock worth $199,808,000 after purchasing an additional 25,597 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of CBRE Group by 2.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,331,734 shares of the financial services provider’s stock worth $179,450,000 after purchasing an additional 59,137 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in CBRE Group by 2.9% in the third quarter. UBS Asset Management Americas Inc. now owns 2,118,533 shares of the financial services provider’s stock valued at $143,022,000 after acquiring an additional 59,700 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

CBRE has been the topic of a number of analyst reports. Raymond James lowered their target price on shares of CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 20th. JPMorgan Chase & Co. upped their target price on shares of CBRE Group from $80.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, March 3rd. Keefe, Bruyette & Woods cut 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 lowered their target price 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 reduced their price target on shares of CBRE Group from $103.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 10th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.86.

CBRE Group Price Performance

Shares of CBRE stock opened at $73.10 on Friday. CBRE Group, Inc. has a 1 year low of $66.31 and a 1 year high of $89.58. The firm’s 50 day moving average is $73.35 and its 200-day moving average is $77.63. The firm has a market capitalization of $22.72 billion, a price-to-earnings ratio of 21.01 and a beta of 1.36. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.

CBRE Group (NYSE:CBRE – Get Rating) last announced its earnings results on Thursday, April 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. CBRE Group had a net margin of 3.66% and a return on equity of 19.40%. The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the business earned $1.39 earnings per share. CBRE Group’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts forecast that CBRE Group, Inc. will post 4.94 EPS for the current fiscal 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.

Further Reading

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

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