Verdence Capital Advisors LLC Has $1.05 Million Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Verdence Capital Advisors LLC reduced its holdings in CBRE Group, Inc. (NYSE:CBRE) by 22.8% in the 4th quarter, HoldingsChannel reports. The fund owned 8,031 shares of the financial services provider’s stock after selling 2,373 shares during the period. Verdence Capital Advisors LLC’s holdings in CBRE Group were worth $1,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Algert Global LLC acquired a new position in CBRE Group in the 3rd quarter valued at approximately $1,829,000. Hudson Valley Investment Advisors Inc. ADV acquired a new position in CBRE Group in the 4th quarter valued at approximately $1,518,000. Merit Financial Group LLC acquired a new position in CBRE Group in the 4th quarter valued at approximately $256,000. Fulton Bank N.A. boosted its stake in shares of CBRE Group by 342.0% in the 4th quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock valued at $3,262,000 after purchasing an additional 19,227 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of CBRE Group by 17,304.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 3,807 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CBRE. Morgan Stanley upped their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Evercore ISI reduced their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

CBRE Group Stock Up 2.0 %

Shares of NYSE CBRE opened at $142.36 on Thursday. The firm has a market cap of $42.71 billion, a PE ratio of 45.34 and a beta of 1.39. CBRE Group, Inc. has a 12-month low of $84.24 and a 12-month high of $147.75. The company’s fifty day simple moving average is $137.89 and its 200 day simple moving average is $130.53. 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 released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

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.