PNC Financial Services Group Inc. Cuts Stake in CBRE Group, Inc. (NYSE:CBRE)

PNC Financial Services Group Inc. lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 105,532 shares of the financial services provider’s stock after selling 1,472 shares during the period. PNC Financial Services Group Inc.’s holdings in CBRE Group were worth $13,855,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of CBRE Group in the fourth quarter valued at $25,000. Canton Hathaway LLC bought a new position in shares of CBRE Group during the 3rd quarter worth $27,000. Denver PWM LLC purchased a new stake in CBRE Group in the 4th quarter worth about $29,000. Ashton Thomas Securities LLC bought a new stake in CBRE Group in the 3rd quarter valued at about $32,000. Finally, Catalyst Capital Advisors LLC lifted its holdings in CBRE Group by 190.4% during 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 last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CBRE. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. Raymond James lowered shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $155.00 to $152.00 in a research note on Friday, January 24th. Morgan Stanley increased their target price on CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $163.00 in a research report on Monday, December 16th. Finally, Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and increased 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 company. According to data from MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group Price Performance

NYSE:CBRE opened at $125.81 on Wednesday. The firm has a market capitalization of $37.75 billion, a price-to-earnings ratio of 40.07 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. The stock has a fifty day moving average of $137.72 and a 200 day moving average of $131.09. CBRE Group, Inc. has a 52-week low of $84.24 and a 52-week high of $147.75.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (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%. On average, research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

About CBRE Group

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.