Heritage Wealth Management Inc. Takes $205,000 Position in CBRE Group, Inc. (NYSE:CBRE)

Heritage Wealth Management Inc. purchased a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,565 shares of the financial services provider’s stock, valued at approximately $205,000.

Other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new position in shares of CBRE Group during the 3rd quarter valued at $27,000. Denver PWM LLC bought a new stake in shares of CBRE Group during the 4th quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in shares of CBRE Group during the 3rd quarter worth $32,000. Catalyst Capital Advisors LLC boosted its stake in shares of CBRE Group by 190.4% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 238 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of CBRE Group by 165.9% during the 4th quarter. CENTRAL TRUST Co now owns 484 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 302 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CBRE shares. Jefferies Financial Group raised 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 research note on Thursday, January 2nd. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $163.00 in a research note on Monday, December 16th. Morgan Stanley raised their price objective on CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Raymond James lowered CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their price objective on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $141.89 on Friday. The stock has a market cap of $42.57 billion, a PE ratio of 45.19 and a beta of 1.39. The business has a fifty day simple moving average of $137.32 and a 200-day simple moving average of $129.90. 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, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data 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, sell-side analysts anticipate that CBRE Group, Inc. will post 5.99 EPS 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.