Victory Capital Management Inc. Buys 32,558 Shares of CBRE Group, Inc. (NYSE:CBRE)

Victory Capital Management Inc. lifted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 16.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 229,424 shares of the financial services provider’s stock after acquiring an additional 32,558 shares during the period. Victory Capital Management Inc.’s holdings in CBRE Group were worth $30,121,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CBRE. FMR LLC lifted 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 worth $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in CBRE Group in the fourth quarter worth $190,695,000. Manning & Napier Advisors LLC bought a new stake in CBRE Group in the fourth quarter worth $175,978,000. Los Angeles Capital Management LLC lifted its stake in CBRE Group by 1,499.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock worth $139,162,000 after purchasing an additional 993,687 shares during the last quarter. Finally, State Street Corp lifted 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 worth $1,672,204,000 after purchasing an additional 692,697 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $130.51 on Monday. CBRE Group, Inc. has a 1 year low of $84.24 and a 1 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 moving average is $137.91 and its 200 day moving average is $130.94. The stock has a market capitalization of $39.16 billion, a P/E ratio of 41.56 and a beta of 1.42.

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

Analysts Set New Price Targets

Several research firms have weighed in on CBRE. The Goldman Sachs Group began coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price target for the company. Raymond James downgraded shares of 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 research note on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $163.00 in a research report on Monday, December 16th. Morgan Stanley boosted their price objective on shares of CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $133.00 to $152.00 in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and an average price target 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.