Principal Securities Inc. Acquires 2,937 Shares of CBRE Group, Inc. (NYSE:CBRE)

Principal Securities Inc. boosted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 28.3% during the fourth quarter, Holdings Channel reports. The fund owned 13,308 shares of the financial services provider’s stock after acquiring an additional 2,937 shares during the period. Principal Securities Inc.’s holdings in CBRE Group were worth $1,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings in CBRE Group by 680.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 624 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 544 shares during the last quarter. Creative Planning raised its holdings in CBRE Group by 5.9% in the third quarter. Creative Planning now owns 37,804 shares of the financial services provider’s stock worth $4,706,000 after purchasing an additional 2,092 shares during the period. Bleakley Financial Group LLC increased its position in shares of CBRE Group by 6.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,845 shares of the financial services provider’s stock valued at $603,000 after buying an additional 314 shares in the last quarter. OLD National Bancorp IN acquired a new stake in CBRE Group during the 3rd quarter worth $230,000. Finally, Signaturefd LLC lifted its holdings in CBRE Group by 5.2% during the third quarter. Signaturefd LLC now owns 4,975 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Performance

Shares of CBRE stock opened at $143.67 on Wednesday. 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 $136.21 and its 200-day simple moving average is $128.02. The firm has a market cap of $43.96 billion, a PE ratio of 46.20 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. Equities research analysts expect that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CBRE. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $155.00 to $152.00 in a report on Friday, January 24th. Morgan Stanley raised CBRE Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $115.00 to $160.00 in a research note on Wednesday, January 15th. Evercore ISI cut their price target 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. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and an average target price of $149.33.

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.