Alberta Investment Management Corp Has $4.42 Million Position in CBRE Group, Inc. (NYSE:CBRE)

Alberta Investment Management Corp lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 8.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,700 shares of the financial services provider’s stock after selling 3,200 shares during the period. Alberta Investment Management Corp’s holdings in CBRE Group were worth $4,424,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CBRE. FMR LLC increased its stake in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after acquiring an additional 3,498,244 shares during the period. Manning & Napier Advisors LLC bought a new stake in CBRE Group in the fourth quarter valued at about $175,978,000. Robeco Institutional Asset Management B.V. increased its stake in CBRE Group by 60.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after acquiring an additional 993,963 shares during the period. State Street Corp increased its stake in CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after acquiring an additional 692,697 shares during the period. Finally, Jennison Associates LLC increased its stake in CBRE Group by 88.6% in the fourth quarter. Jennison Associates LLC now owns 716,086 shares of the financial services provider’s stock valued at $94,015,000 after acquiring an additional 336,359 shares during the period. Institutional investors own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup upped their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Morgan Stanley upped their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Finally, Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Three research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group Price Performance

CBRE opened at $143.62 on Thursday. CBRE Group, Inc. has a one year low of $84.24 and a one year high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The company’s 50 day simple moving average is $136.37 and its 200-day simple moving average is $128.26. The stock has a market capitalization of $43.95 billion, a P/E ratio of 45.74 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS 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%. Sell-side analysts anticipate that CBRE Group, Inc. will post 6 earnings per share 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.