Jacobi Capital Management LLC Purchases New Position in CBRE Group, Inc. (NYSE:CBRE)

Jacobi Capital Management LLC purchased a new stake in CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,636 shares of the financial services provider’s stock, valued at approximately $871,000.

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

CBRE Group Price Performance

NYSE CBRE opened at $141.89 on Friday. CBRE Group, Inc. has a 12-month low of $84.24 and a 12-month high of $147.75. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $137.32 and its 200-day moving average is $129.90. The company has a market capitalization of $42.57 billion, a PE ratio of 45.19 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Equities research analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on CBRE shares. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a report on Friday, February 14th. Evercore ISI dropped their target price on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group started coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Raymond James downgraded shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $155.00 to $152.00 in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $163.00 in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.