Fisher Funds Management LTD Invests $7.40 Million in CBRE Group, Inc. (NYSE:CBRE)

Fisher Funds Management LTD acquired a new stake in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 56,569 shares of the financial services provider’s stock, valued at approximately $7,398,000.

Several other hedge funds have also added to or reduced their stakes in the business. Canton Hathaway LLC bought a new position in shares of CBRE Group during the third quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in shares of CBRE Group in the third quarter worth $32,000. Catalyst Capital Advisors LLC increased its holdings in CBRE Group by 190.4% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 238 shares during the period. CENTRAL TRUST Co raised its position in CBRE Group by 165.9% during the 4th quarter. CENTRAL TRUST Co now owns 484 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 302 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in CBRE Group by 3,969.2% during the 4th quarter. Versant Capital Management Inc now owns 529 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 516 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Stock Down 4.2 %

Shares of NYSE CBRE opened at $135.72 on Friday. The company’s fifty day simple moving average is $136.50 and its 200 day simple moving average is $128.80. CBRE Group, Inc. has a 12-month low of $84.24 and a 12-month high of $147.75. The firm has a market cap of $40.72 billion, a PE ratio of 43.22 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. As a group, sell-side analysts forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CBRE. Raymond James cut CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $155.00 to $152.00 in a research note on Friday, January 24th. Evercore ISI decreased their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Citigroup upped their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Morgan Stanley lifted their target price on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and an average target price of $149.89.

CBRE Group Company 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.